Document:

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                                                                     EXHIBIT 4.5

                          REGISTRATION RIGHTS AGREEMENT

                  This Registration Rights Agreement (this "Agreement") is made
and entered into as of May 30, 2002, by and among Merix Corporation, an Oregon
corporation (the "Company"), and the purchasers signatory hereto (each,
including their respective successors and assigns, a "Purchaser" and
collectively, the "Purchasers").

                  This Agreement is made pursuant to the Securities Purchase
Agreement, dated as of the date hereof among the Company and the Purchasers (the
"Purchase Agreement").

                  The Company and the Purchasers hereby agree as follows:

         1.       Definitions.  Capitalized  terms used and not  otherwise
defined herein that are defined in the Purchase Agreement shall have the
meanings given such terms in the Purchase Agreement. As used in this Agreement,
the following terms shall have the meanings set forth in this Section 1:

                  "Debentures" shall have the meaning set forth in the Purchase
Agreement.

                  "Effective Date" means the date on which the Registration
Statement is declared effective by the Commission.

                  "Effectiveness Date" means the earlier of: (i) the 90th day
following the Closing Date, provided, that if the Commission shall review the
Company's Annual Report on Form 10-K for the fiscal year ended May 25, 2002,
then such date shall be extended by 30 days and (ii) the fifth Trading Day
following the date on which the Company is notified by the Commission that the
Registration Statement will not be reviewed or is no longer subject to further
review and comments.

                  "Effectiveness Period" shall have the meaning set forth in
Section 2(a).

                  "Filing Date" means the 30th day following the Closing Date.

                  "Holder" or "Holders" means the holder or holders, as the case
may be, from time to time of Registrable Securities.

                  "Indemnified Party" shall have the meaning set forth in
Section 5(c).

                  "Indemnifying Party" shall have the meaning set forth in
Section 5(c).

                  "Losses" shall have the meaning set forth in Section 5(a).

                  "Proceeding" means an action, claim, suit, investigation or
proceeding (including, without limitation, an investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

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                  "Prospectus" means the prospectus included in the Registration
Statement (including, without limitation, a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated under the
Securities Act), as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the Registrable
Securities covered by the Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all
material incorporated by reference or deemed to be incorporated by reference in
such Prospectus.

                  "Registrable Securities" means the Underlying Shares, together
with any securities issued or issuable upon any stock split, dividend or other
distribution, recapitalization or similar event with respect to the foregoing.

                  "Registration Statement" means the registration statement
required to be filed hereunder, including (in each case) the Prospectus,
amendments and supplements to such registration statement or Prospectus,
including pre and post-effective amendments, all exhibits thereto, and all
material incorporated by reference or deemed to be incorporated by reference in
such registration statement.

                  "Rule 144" means Rule 144 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

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

                  "Rule 424" means Rule 424 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having
substantially the same effect as such Rule.

                  "Special Counsel" means Robinson Silverman Pearce Aronsohn &
Berman LLP.

                  "Underlying Shares" means the shares of Common Stock issuable
upon conversion in full of the Debentures.

         2.       Registration.
                  ------------

                  (a) On or prior to the Filing Date, the Company shall prepare
and file with the Commission the Registration Statement covering the resale of
all Registrable Securities for an offering to be made on a continuous basis
pursuant to Rule 415. The Registration Statement shall be on Form S-3 (except if
the Company is not then eligible to register for resale the Registrable
Securities on Form S-3, in which case such registration shall be on another
appropriate form in accordance herewith) and shall contain (except if otherwise
agreed by the Holders) the "Plan of Distribution" attached hereto as Annex A.
The Company shall use its best efforts to cause the Registration Statement to be
declared effective under the Securities Act as promptly as possible after the
filing thereof, but in any event prior to the Effectiveness Date, and shall use
its best efforts to keep the Registration Statement continuously effective under
the

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Securities Act the earlier of: (i) date when all Registrable Securities covered
by the Registration Statement have been sold or may be sold without volume
restrictions pursuant to Rule 144(k) as determined by the counsel to the Company
pursuant to a written opinion letter to such effect, addressed and acceptable to
the Company's transfer agent and the affected Holders (the "Effectiveness
Period"), (ii) the date that all of the Underlying Shares have been sold
pursuant to such Registration Statement, or (iii) the date that all Underlying
Shares have been otherwise transferred to persons who may trade such shares
without restriction under the Securities Act, and the Company has delivered a
new certificate or other evidence of ownership for such securities not bearing a
restrictive legend.

                  (b)    If: (a) the Registration Statement is not filed on or
prior to the Filing Date (if the Company files the Registration Statement
without affording the Holder the opportunity to review and comment on the same
as required by Section 3(a), the Company shall not be deemed to have satisfied
clause (a)), or (b) the Company fails to file with the Commission a request for
acceleration in accordance with Rule 461 promulgated under the Securities Act,
within five Trading Days of the date that the Company is notified (orally or in
writing, whichever is earlier) by the Commission that the Registration Statement
will not be "reviewed," or not subject to further review, or (c) prior to the
Effective Date, the Company fails to file a pre-effective amendment and
otherwise respond in writing to comments made by the Commission in respect of
the Registration Statement within ten Trading Days after the receipt of comments
by or notice from the Commission that such amendment is required in order for
the Registration Statement to be declared effective, or (d) the Registration
Statement filed or required to be filed hereunder is not declared effective by
the Commission by its Effectiveness Date, or (e) after the Effective Date, the
Registration Statement ceases for any reason to remain continuously effective as
to all Registrable Securities for which it is required to be effective, or the
Holders are not permitted to utilize the Prospectus therein to resell such
Registrable Securities, for in any such cases an aggregate of twenty-five (25)
Trading Days (which need not be consecutive Trading Days) in any 12-month period
(any such failure or breach being referred to as an "Event," and for purposes of
clause (a) or (d) the date on which such Event occurs, or for purposes of clause
(b) the date on which such five Trading Day period is exceeded, or for purposes
of clauses (c) the date which such ten Trading Day period is exceeded, or for
purposes of clause (e) the date on which such twenty-five (25) Trading Day
period is exceeded being referred to as "Event Date"), then, in addition to any
other rights the Holders may have hereunder or applicable law: (x) on the first
monthly anniversary of each such Event Date the Company shall pay to each Holder
an amount in cash, as liquidated damages and not as a penalty, equal to 1% of
the principal amount then outstanding under such Holder's Debentures; and (y) on
each monthly anniversary of the first monthly anniversary of each such Event
Date (if the applicable Event shall not have been cured by such date) until the
applicable Event is cured, the Company shall pay to each Holder an amount in
cash, as liquidated damages and not as a penalty, equal to 2% of the principal
amount then outstanding under such Holder's Debentures. If the Company fails to
pay any liquidated damages pursuant to this Section in full within seven days
after the date payable, the Company will pay interest thereon at a rate of 12%
per annum (or such lesser maximum amount that is permitted to be paid by
applicable law) to the Holder, accruing daily from the date such liquidated
damages are due until such amounts, plus all such interest thereon, are paid in
full. The liquidated damages pursuant to the terms hereof shall apply on a
pro-rata basis for any portion of a month (including, without limitations, the
period between an Event Date and the first monthly anniversary thereof) prior to
the cure of an Event.

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                  (c)      The Registration Statement required to be filed
hereunder shall include not less than 1,287,996 of shares of Common Stock.

                  3.       Registration Procedures
                           -----------------------

                  In connection with the Company's registration obligations
hereunder, the Company shall:

                  (a)      Not less than four Trading Days prior to the filing
of the Registration Statement or any related Prospectus or any amendment or
supplement thereto, the Company shall, (i) furnish to the Holders and the
Special Counsel copies of all such documents proposed to be filed (including
documents incorporated or deemed incorporated by reference) which documents will
be subject to the review of such Holders and the Special Counsel, and (ii) cause
its officers and directors, counsel and independent certified public accountants
to respond to such inquiries as shall be necessary, in the reasonable opinion of
respective counsel to conduct a reasonable investigation within the meaning of
the Securities Act. The Company shall not file the Registration Statement or any
such Prospectus or any amendments or supplements thereto to which the Holders of
a majority of the Registrable Securities and the Special Counsel shall
reasonably object.

                  (b)      (i) Prepare and file with the Commission such
amendments, including post-effective amendments, to the Registration Statement
and a Prospectus used in connection therewith as may be necessary to keep the
Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission
such additional Registration Statements in order to register for resale under
the Securities Act all of the Registrable Securities; (ii) cause the related
Prospectus to be amended or supplemented by any required Prospectus supplement,
and as so supplemented or amended to be filed pursuant to Rule 424; (iii)
respond as promptly as reasonably possible, and in any event within ten days, to
any comments received from the Commission with respect to the Registration
Statement or any amendment thereto and, as promptly as reasonably possible
provide the Special Counsel true and complete copies of all correspondence from
and to the Commission relating to the Registration Statement that pertain
specifically to this transaction, the Holders or the Plan of Distribution; and
(iv) comply in all material respects with the provisions of the Securities Act
and the Exchange Act with respect to the disposition of all Registrable
Securities covered by the Registration Statement during the applicable period in
accordance with the intended methods of disposition by the Holders thereof set
forth in the Registration Statement as so amended or in such Prospectus as so
supplemented.

                  (c)      Notify the Holders of Registrable Securities to be
sold and the Special Counsel as promptly as reasonably possible (and, in the
case of (i)(A) below, not less than three Trading Days prior to such filing) and
(if requested by any such Person) confirm such notice in writing no later than
one Trading Day following the day (i)(A) when a Prospectus or any Prospectus
supplement or post-effective amendment to the Registration Statement is proposed
to be filed; (B) when the Commission notifies the Company whether there will be
a "review" of the Registration Statement and whenever the Commission comments in
writing on the Registration Statement (the Company shall provide true and
complete copies thereof and all written responses thereto to each of the Holders
that pertain specifically to this transaction, the Holders or the Plan

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of Distribution); and (C) with respect to the Registration Statement or any
post-effective amendment, when the same has become effective; (ii) of any
request by the Commission or any other Federal or state governmental authority
for amendments or supplements to the Registration Statement or Prospectus or for
additional information; (iii) of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement covering any or
all of the Registrable Securities or the initiation of any Proceedings for that
purpose; (iv) of the receipt by the Company of any notification with respect to
the suspension of the qualification or exemption from qualification of any of
the Registrable Securities for sale in any jurisdiction, or the initiation or
threatening of any Proceeding for such purpose; and (v) of the occurrence of any
event or passage of time that makes the financial statements included in the
Registration Statement ineligible for inclusion therein or any statement made in
the Registration Statement or Prospectus or any document incorporated or deemed
to be incorporated therein by reference untrue in any material respect or that
requires any revisions to the Registration Statement, Prospectus or other
documents so that, in the case of the Registration Statement or Prospectus, as
the case may be, it will not contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading.

                  (d) Use its best efforts to avoid the issuance of, or, if
issued, obtain the withdrawal of (i) any order suspending the effectiveness of
the Registration Statement, or (ii) any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in
any jurisdiction, at the earliest practicable moment.

                  (e) Furnish to each Holder and the Special Counsel, without
charge, at least one conformed copy of the Registration Statement and each
amendment thereto, including financial statements and schedules and all
documents incorporated or deemed to be incorporated therein by reference and all
exhibits, to the extent requested by such Person (including those previously
furnished or incorporated by reference) promptly after the filing of such
documents with the Commission.

                  (f) Promptly deliver to each Holder and the Special Counsel,
without charge, as many copies of the Prospectus or Prospectuses (including each
form of prospectus) and each amendment or supplement thereto as such Persons may
reasonably request. The Company hereby consents to the use of such Prospectus
and each amendment or supplement thereto by each of the selling Holders in
connection with the offering and sale of the Registrable Securities covered by
such Prospectus and any amendment or supplement thereto.

                  (g) Prior to any public offering of Registrable Securities,
use its best efforts to register or qualify or cooperate with the selling
Holders and the Special Counsel in connection with the registration or
qualification (or exemption from such registration or qualification) of such
Registrable Securities for offer and sale under the securities or Blue Sky laws
of such jurisdictions within the United States as any Holder requests in
writing, to keep each such registration or qualification (or exemption
therefrom) effective during the Effectiveness Period and to do any and all other
acts or things necessary or advisable to enable the disposition in such
jurisdictions of the Registrable Securities covered by the Registration
Statement; provided, that the Company shall not be required to qualify generally
to do business in any jurisdiction where it

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is not then so qualified or subject the Company to any material tax in any such
jurisdiction where it is not then so subject.

               (h)  Cooperate with the Holders to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to
be delivered to a transferee pursuant to the Registration Statement, which
certificates shall be free, to the extent permitted by the Purchase Agreement,
of all restrictive legends, and to enable such Registrable Securities to be in
such denominations and registered in such names as any such Holders may request.

               (i)  Upon the occurrence of any event contemplated by Section
3(c)(v), as promptly as reasonably possible, prepare a supplement or amendment,
including a post-effective amendment, to the Registration Statement or a
supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference, and file any other required document so
that, as thereafter delivered, neither the Registration Statement nor such
Prospectus will contain 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, in light of the circumstances under which they were made,
not misleading.

               (j)  Comply with all applicable rules and regulations of the
Commission.

               (k)  The Company may require each selling Holder to furnish to
the Company a certified statement as to the number of shares of Common Stock
beneficially owned by such Holder and, if requested by the Commission, the
controlling person thereof.

         4.    Registration Expenses. All fees and expenses incident to the
performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to
the Registration Statement. The fees and expenses referred to in the foregoing
sentence shall include, without limitation, (i) all registration and filing fees
(including, without limitation, fees and expenses (A) with respect to filings
required to be made with the Trading Market on which the Common Stock is then
listed for trading, and (B) in compliance with applicable state securities or
Blue Sky laws), (ii) printing expenses (including, without limitation, expenses
of printing certificates for Registrable Securities and of printing prospectuses
if the printing of prospectuses is reasonably requested by the holders of a
majority of the Registrable Securities included in the Registration Statement),
(iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of
counsel for the Company, (v) Securities Act liability insurance, if the Company
so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement. In addition, the Company shall be responsible
for all of its internal expenses incurred in connection with the consummation of
the transactions contemplated by this Agreement (including, without limitation,
all salaries and expenses of its officers and employees performing legal or
accounting duties), the expense of any annual audit and the fees and expenses
incurred in connection with the listing of the Registrable Securities on any
securities exchange as required hereunder.

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         5.    Indemnification
               ---------------

               (a)  Indemnification by the Company. The Company shall,
notwithstanding any termination of this Agreement, indemnify and hold harmless
each Holder, the officers, directors, agents and employees of each of them, each
Person who controls any such Holder (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) and the officers, directors,
agents and employees of each such controlling Person, to the fullest extent
permitted by applicable law, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable costs of
preparation and reasonable attorneys' fees) and expenses (collectively,
"Losses"), as incurred, arising out of or relating to any untrue or alleged
untrue statement of a material fact contained in the Registration Statement, any
Prospectus or any form of prospectus or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission
or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein (in the case of any Prospectus or form
of Prospectus or amendment or supplement thereto, in light of the circumstances
under which they were made) not misleading, except to the extent, but only to
the extent, that (1) such untrue statements or omissions are based solely upon
information regarding such Holder furnished in writing to the Company by such
Holder expressly for use therein, or to the extent that such information relates
to such Holder or such Holder's proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder or
Special Counsel expressly for use in the Registration Statement, such Prospectus
or such form of Prospectus or in any amendment or supplement thereto (it being
understood that the Holder or Special Counsel has approved Annex A hereto for
this purpose) or (2) in the case of an occurrence of an event of the type
specified in Section 3(c)(ii)-(v), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that
the Prospectus is outdated or defective and prior to the receipt by such Holder
of the Advice contemplated in Section 6(d). The Company shall notify the Holders
promptly of the institution, threat or assertion of any Proceeding of which the
Company is aware in connection with the transactions contemplated by this
Agreement.

               (b)  Indemnification by Holders. Each Holder shall, severally and
not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors, officers, agents or employees of such controlling Persons, to the
fullest extent permitted by applicable law, from and against all Losses, as
incurred, arising solely out of or based solely upon: (x) such Holder's failure
to comply with the prospectus delivery requirements of the Securities Act in
reselling Registrable Securities or (y) any untrue statement of a material fact
contained in the Registration Statement, any Prospectus, or any form of
prospectus, or in any amendment or supplement thereto, or arising solely out of
or based solely upon any omission of a material fact required to be stated
therein or necessary to make the statements therein not misleading to the
extent, but only to the extent, that such untrue statement or omission is
contained in any information so furnished in writing by such Holder or Special
Counsel to the Company specifically for inclusion in the Registration Statement
or such Prospectus or to the extent that (1) such untrue statements or omissions
are based solely upon information regarding such Holder furnished in writing to
the Company by such Holder or Special Counsel expressly for use therein, or to
the extent that such information relates to such Holder or such Holder's
proposed method of distribution of

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Registrable Securities and was reviewed and expressly approved in writing by
such Holder or Special Counsel expressly for use in the Registration Statement
(it being understood that the Holder has approved Annex A hereto for this
purpose), such Prospectus or such form of Prospectus or in any amendment or
supplement thereto or (2) in the case of an occurrence of an event of the type
specified in Section 3(c)(ii)-(v), the use by such Holder of an outdated or
defective Prospectus after the Company has notified such Holder in writing that
the Prospectus is outdated or defective and prior to the receipt by such Holder
of the Advice contemplated in Section 6(d). In no event shall the liability of
any selling Holder hereunder be greater in amount than the dollar amount of the
net proceeds received by such Holder upon the sale of the Registrable Securities
giving rise to such indemnification obligation.

               (c)  Conduct of Indemnification Proceedings. If any Proceeding
shall be brought or asserted against any Person entitled to indemnity hereunder
(an "Indemnified Party"), such Indemnified Party shall promptly notify the
Person from whom indemnity is sought (the "Indemnifying Party") in writing, and
the Indemnifying Party shall assume the defense thereof, including the
employment of counsel reasonably satisfactory to the Indemnified Party and the
payment of all fees and expenses incurred in connection with defense thereof;
provided, that the failure of any Indemnified Party to give such notice shall
not relieve the Indemnifying Party of its obligations or liabilities pursuant to
this Agreement, except (and only) to the extent that it shall be finally
determined by a court of competent jurisdiction (which determination is not
subject to appeal or further review) that such failure shall have proximately
and materially adversely prejudiced the Indemnifying Party.

               An Indemnified Party shall have the right to employ separate
counsel in any such Proceeding and to participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such
Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in
writing to pay such fees and expenses; (2) the Indemnifying Party shall have
failed promptly to assume the defense of such Proceeding and to employ counsel
reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3)
the named parties to any such Proceeding (including any impleaded parties)
include both such Indemnified Party and the Indemnifying Party, and such
Indemnified Party shall have been advised by counsel that a conflict of interest
is likely to exist if the same counsel were to represent such Indemnified Party
and the Indemnifying Party (in which case, if such Indemnified Party notifies
the Indemnifying Party in writing that it elects to employ separate counsel at
the expense of the Indemnifying Party, the Indemnifying Party shall not have the
right to assume the defense thereof and such counsel shall be at the expense of
the Indemnifying Party; provided that the Indemnifying Party in such
circumstance will only be liable for the reasonable fees and expenses of one
separate law firm for the Indemnified Party). The Indemnifying Party shall not
be liable for any settlement of any such Proceeding effected without its written
consent, which consent shall not be unreasonably withheld. No Indemnifying Party
shall, without the prior written consent of the Indemnified Party, effect any
settlement of any pending Proceeding in respect of which any Indemnified Party
is a party, unless such settlement includes an unconditional release of such
Indemnified Party from all liability on claims that are the subject matter of
such Proceeding.

               All fees and expenses of the Indemnified Party (including
reasonable fees and expenses to the extent incurred in connection with
investigating or preparing to defend such Proceeding in a manner not
inconsistent with this Section) shall be paid to the Indemnified Party,

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as incurred, within ten Trading Days of written notice thereof to the
Indemnifying Party (regardless of whether it is ultimately determined that an
Indemnified Party is not entitled to indemnification hereunder; provided, that
the Indemnifying Party may require such Indemnified Party to undertake to
reimburse all such fees and expenses to the extent it is finally judicially
determined that such Indemnified Party is not entitled to indemnification
hereunder).

               (d)  Contribution. If a claim for indemnification under Section
5(a) or 5(b) is unavailable to an Indemnified Party (by reason of public policy
or otherwise), then each Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Losses, in such proportion as is
appropriate to reflect the relative fault of the Indemnifying Party and
Indemnified Party in connection with the actions, statements or omissions that
resulted in such Losses as well as any other relevant equitable considerations.
The relative fault of such Indemnifying Party and Indemnified Party shall be
determined by reference to, among other things, whether any action in question,
including any untrue or alleged untrue statement of a material fact or omission
or alleged omission of a material fact, has been taken or made by, or relates to
information supplied by, such Indemnifying Party or Indemnified Party, and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such action, statement or omission. The amount paid or
payable by a party as a result of any Losses shall be deemed to include, subject
to the limitations set forth in Section 5(c), any reasonable attorneys' or other
reasonable fees or expenses incurred by such party in connection with any
Proceeding to the extent such party would have been indemnified for such fees or
expenses if the indemnification provided for in this Section was available to
such party in accordance with its terms.

               The parties hereto agree that it would not be just and equitable
if contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 5(d), no Holder shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the
proceeds actually received by such Holder from the sale of the Registrable
Securities subject to the Proceeding exceeds the amount of any damages that such
Holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

               The indemnity and contribution agreements contained in this
Section are in addition to any liability that the Indemnifying Parties may have
to the Indemnified Parties.

         6.    Miscellaneous
               -------------

               (a)  Remedies. In the event of a breach by the Company or by a
Holder, of any of their obligations under this Agreement, each Holder or the
Company, as the case may be, in addition to being entitled to exercise all
rights granted by law and under this Agreement, including recovery of damages,
will be entitled to specific performance of its rights under this Agreement. The
Company and each Holder agree that monetary damages would not provide adequate
compensation for any losses incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that, in the event of any
action for

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specific performance in respect of such breach, it shall waive the defense that
a remedy at law would be adequate.

               (b)  Other Registrations. From the date hereof to the Effective
Date, the Company shall not file any registration statement with the Commission
(other than the Registration Statement or one or more registration statements on
Form S-8 as promulgated under the Securities Act) with respect to any securities
of the Company. Except as and to the extent specified in Schedule 6(b) hereto,
neither the Company nor any of its security holders (other than the Holders in
such capacity pursuant hereto) may include securities of the Company in the
Registration Statement other than the Registrable Securities, and the Company
shall not after the date hereof enter into any agreement providing any such
right to any of its security holders. Except as and to the extent specified in
Schedule 6(b) hereto, the Company has not previously entered into any agreement
granting any registration rights with respect to any of its securities to any
Person which have not been fully satisfied.

               (c)  Compliance. Each Holder covenants and agrees that it will
comply with the prospectus delivery requirements of the Securities Act as
applicable to it in connection with sales of Registrable Securities pursuant to
the Registration Statement.

               (d)  Discontinued Disposition. Each Holder agrees by its
acquisition of such Registrable Securities that, upon receipt of a notice from
the Company of the occurrence of any event of the kind described in Section
3(c), such Holder will forthwith discontinue disposition of such Registrable
Securities under the Registration Statement until such Holder's receipt of the
copies of the supplemented Prospectus and/or amended Registration Statement or
until it is advised in writing (the "Advice") by the Company that the use of the
applicable Prospectus may be resumed, and, in either case, has received copies
of any additional or supplemental filings that are incorporated or deemed to be
incorporated by reference in the Prospectus or Registration Statement. The
Company may provide appropriate stop orders to enforce the provisions of this
paragraph.

               (e)  Piggy-Back Registrations. If at any time during the
Effectiveness Period there is not an effective Registration Statement covering
all of the Registrable Securities and the Company shall determine to prepare and
file with the Commission a registration statement relating to an offering for
its own account or the account of others under the Securities Act of any of its
equity securities, other than on Form S-4 or Form S-8 (each as promulgated under
the Securities Act) or their then equivalents relating to equity securities to
be issued solely in connection with any acquisition of any entity or business or
equity securities issuable in connection with stock option or other employee
benefit plans, then the Company shall send to each Holder written notice of such
determination and, if within fifteen days after receipt of such notice, any such
Holder shall so request in writing, the Company shall include in such
registration statement all or any part of such Registrable Securities such
holder requests to be registered, subject to customary underwriter cutbacks
applicable to all holders of registration rights.

               (f)  Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless the same shall be in

                                       10

<PAGE>

writing and signed by the Company and the Holders of a majority in interest of
the then outstanding Registrable Securities.

               (g)  Notices. Any and all notices or other communications or
deliveries required or permitted to be provided hereunder shall be in writing
and shall be deemed given and effective on the earliest of (i) the date of
transmission, if such notice or communication is delivered via facsimile at the
facsimile telephone number specified in this Section prior to 6:30 p.m. (New
York City time) on a Trading Day, (ii) the Trading Day after the date of
transmission, if such notice or communication is delivered via facsimile at the
facsimile telephone number specified in this Agreement later than 6:30 p.m. (New
York City time) on any date and earlier than 11:59 p.m. (New York City time) on
such date, (iii) the Trading Day following the date of mailing, if sent by
nationally recognized overnight courier service, or (iv) upon actual receipt by
the party to whom such notice is required to be given. The address for such
notices and communications shall be as follows:

         If to the Company:    Merix Corporation
                               1521 Poplar Lane
                               Forest Grove, Oregon 97116
                               Attn: Chief Financial Officer
                               Fax No.: 503-357-1504

         With copies to:       Merix Corporation
                               1521 Poplar Lane
                               Forest Grove, Oregon 97116
                               Attn: Controller
                               Fax No.: 503-992-4054

                               Perkins Coie LLP
                               1211 S.W. Fifth Avenue, Suite 1500
                               Portland, OR 97204-3715
                               Attn: Patrick J. Simpson
                               Fax No.: 503-727-2222

         If to a Purchaser:    To the address set forth under such Purchaser's
                               name on the signature pages hereof

         If to any other Person who is then the registered Holder, to the
         address of such Holder as it appears in the stock transfer books of the
         Company or such other address as may be designated in writing
         hereafter, in the same manner, by such Person.

               (h)  Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and permitted assigns of each of
the parties and shall inure to the benefit of each Holder. The Company may not
assign its rights or obligations hereunder without the prior written consent of
the Holders of a majority in interest of the then outstanding Registrable
Securities. Each Holder may assign their respective rights hereunder in the
manner and to the Persons as permitted under the Purchase Agreement.

                                       11

<PAGE>

               (i)  Execution and Counterparts. This Agreement may be executed
in any number of counterparts, each of which when so executed shall be deemed to
be an original and, all of which taken together shall constitute one and the
same Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the
party executing (or on whose behalf such signature is executed) the same with
the same force and effect as if such facsimile signature were the original
thereof.

               (j)  Governing Law. All questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by
and construed and enforced in accordance with the internal laws of the State of
New York, without regard to the principles of conflicts of law thereof. Each
party agrees that all Proceedings shall be commenced exclusively in the state
and federal courts sitting in the City of New York, Borough of Manhattan (the
"New York Courts"). Each party hereto hereby irrevocably submits to the
exclusive jurisdiction of the New York Courts for any proceeding, and hereby
irrevocably waives, and agrees not to assert in any Proceeding, any claim that
it is not personally subject to the jurisdiction of any New York Court or that a
New York Court is an inconvenient forum for such Proceeding. Each party hereto
hereby irrevocably waives personal service of process and consents to process
being served in any such Proceeding by mailing a copy thereof via registered or
certified mail or overnight delivery (with evidence of delivery) to such party
at the address in effect for 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. Each party hereto hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and
all right to trial by jury in any legal Proceeding. The prevailing party in a
Proceeding shall be reimbursed by the other party for its attorney's fees and
other costs and expenses incurred with the investigation, preparation and
prosecution of such Proceeding.

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

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
SIGNATURE PAGES TO FOLLOW]

                                       12

<PAGE>

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

                                        MERIX CORPORATION

                                        By: /s/ Mark R. Hollinger
                                            ------------------------------------
                                        Name:  Mark R. Hollinger
                                        Title: Chairman, Chief Executive Officer
                                        and President

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
SIGNATURE PAGES OF PURCHASERS TO FOLLOW]

                                       13

<PAGE>

                                     SF CAPITAL PARTNERS LTD

                                     By:    /s/ Brian H. Davidson
                                            ------------------------------------
                                     Name:  Brian H. Davidson
                                     Title: Authorized Signatory

                                     Address for Notice:

                                     1500 West Market Street, Suite 200
                                     Mequon, WI 53092
                                     Facsimile No.: (262) 241 1888
                                     Attn: Brian H. Davidson

                                     With a copy to:
                                     Robinson Silverman Pearce Aronsohn &
                                     Berman LLP
                                     1290 Avenue of the Americas
                                     New York, NY 10104
                                     Facsimile No.: (212) 541-4630 and
                                                    (212) 541-1432
                                     Attn: Eric L. Cohen, Esq.

                                       14

<PAGE>

                                                                         Annex A
                                                                         -------

                              Plan of Distribution
                              --------------------

         The selling shareholders and any of their pledgees, assignees and
successors-in-interest may, from time to time, sell any or all of their shares
of our common stock on any stock exchange, market or trading facility on which
the shares are traded or in private transactions. These sales may be at fixed or
negotiated prices. The selling shareholders may use any one or more of the
following methods when selling shares:

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

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

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

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

..        privately negotiated transactions;

..        short sales

..        broker-dealers may agree with the selling shareholders to sell a
         specified number of such shares at a stipulated price per share;

..        a combination of any such methods of sale; and

..        any other method permitted pursuant to applicable law.

         The selling shareholders may also sell shares under Rule 144 under the
Securities Act, if available, rather than under this prospectus.

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

         The selling shareholders may from time to time pledge or grant a
security interest in some or all of the shares of common stock owned by them
and, if they default in the performance of their secured obligations, the
pledgees or secured parties may offer and sell the shares of common stock from
time to time under this prospectus, or under an amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act of 1933
amending the list of selling shareholders to include the pledgee, transferee or
other successors in interest as selling shareholder under this prospectus.

                                       15

<PAGE>

         The selling shareholders also may transfer the shares of common stock
in other circumstances, in which case the transferees, pledgees or other
successors in interest will be the selling beneficial owners for purposes of
this prospectus.

         The selling shareholders and any broker-dealers or agents that are
involved in selling the shares may be deemed to be "underwriters" within the
meaning of the Securities Act in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any profit on the
resale of the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. The selling shareholders have
informed the Company that they do not have any agreement or understanding,
directly or indirectly, with any person to distribute the Common Stock.

         The Company is required to pay all fees and expenses incident to the
registration of the shares, excluding any fees and expenses incident to the
registration of the shares in relation to a transfer or pledge of the shares.
The Company has agreed to indemnify the selling shareholders against certain
losses, claims, damages and liabilities, including liabilities under the
Securities Act.

                                       16

<PAGE>

                                  Schedule 6(b)

         Tektronix, Inc. ("Tektronix") was granted certain registration rights
pursuant to a Registration Rights Agreement entered into by the Company and
Tektronix as of June 1, 1994, which would entitle Tektronix to include up to
759,750 shares of Common Stock held by Tektronix in the Registration Statement.

                                       17EXHIBIT 4.1

NEITHER THIS WARRANT NOR THE SHARES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, OR
TRANSFERRED UNTIL (I) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH
APPLICABLE STATE SECURITIES LAWS SHALL HAVE BECOME EFFECTIVE WITH REGARD
THERETO, OR (II) IN THE OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY,
REGISTRATION UNDER THE SECURITIES ACT OR SUCH APPLICABLE STATE SECURITIES LAWS
IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED OFFER, SALE OR TRANSFER.

                             STOCK PURCHASE WARRANT

                  TO PURCHASE 350,000 SHARES OF COMMON STOCK OF

                          TRANS-CENTURY RESOURCES, INC.

         THIS WARRANT to purchase common stock, par value $.01 per share (the
"Common Stock") of TRANS-CENTURY RESOURCES, INC., a Delaware corporation (the
"Company") is issued the 19th day of November, 2001 by the Company to PageOne
Business Productions, LLC. (a Delaware limited liability company.) 14724 Ventura
Boulevard, Second Floor, Sherman Oaks, CA 91403, or any subsequent assignee or
transferee (hereinafter referred to collectively as "Holder" or "Holders").

1. ISSUANCE OF WARRANT. The Company hereby grants to the Holder the right to
purchase Three Hundred Fifty Thousand (350,000) shares of the Common Stock, upon
the surrender hereof, at the Exercise Price (as defined in Section 3 below) per
share. The shares of Common Stock issuable upon exercise of this Warrant are
hereinafter referred to as the "Warrant Shares." The number of Warrant Shares
and the Exercise Price are subject to adjustment as provided in Section 9 below.

2. TERM. Subject to the terms and conditions set forth herein, this Warrant
shall be exercisable in whole from the date hereof until 5:00 p.m. Eastern Time
on November 19, 2006 (the "Expiration Date") and shall be void thereafter,
provided that the provisions of Section 6 hereof shall survive in accordance
with their terms.

3. PRICE. The purchase price per share for which the Warrant Shares may be
purchased pursuant to the terms of this Warrant shall be $1.00 per share.

                                       1
<PAGE>

4. EXERCISE.

(a) From the date hereof until the Expiration Date, this Warrant may be
exercised, and the Holder may purchase from the Company, the number of shares of
Common Stock set forth in Section 1 above held by the Holder that the Holder
elects to exercise at such time.

(b) The Holder may exercise this Warrant as to part or all of the Warrant Shares
by surrender of this Warrant and the Notice of Exercise attached hereto as
Exhibit A, duly completed and executed on behalf of the Holder, at the principal
office of the Company, or at such other address as the Company shall designate
in a written notice to the Holder hereof, together with a certified check
payable to the Company for the aggregate Exercise Price of the Warrant Shares so
purchased.

(c)  Saturdays,  Sundays,  Holidays,  etc. If the last or appointed  day for the
taking of any action or the  expiration of any right  required or granted herein
shall be a Saturday, Sunday or a legal holiday, then such action may be taken or
such right may be exercised on the next succeeding day not a Saturday, Sunday or
legal holiday.

5. COVENANTS AND CONDITIONS. The above provisions are subject to the following:

(a) Neither this Warrant nor the Warrant Shares have been registered under the
Securities Act or any state securities laws ("Blue Sky Laws"). This Warrant and
the Warrant have been acquired for investment purposes only and not with a view
to distribution or resale and may not be pledged, hypothecated, sold, made
subject to a security interest, or otherwise transferred without (i) an
effective registration statement for such Warrant under the Securities Act and
such applicable Blue Sky Laws, or (ii) an opinion of counsel reasonably
satisfactory to the Company that registration is not required under the
Securities Act or under any applicable Blue Sky Laws. Transfer of the Warrant
Shares issued upon the exercise of this Warrant shall be restricted in the same
manner and to the same extent as the Warrant, and the certificates representing
such warrant Shares shall bear substantially the following legend:

         THE SHARES OF COMMON STOCK REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF l933, AS AMENDED (THE "ACT"), OR ANY
APPLICABLE STATE SECURITIES LAW AND MAY NOT BE TRANSFERRED UNTIL (i) A
REGISTRATION STATEMENT UNDER THE ACT OR SUCH APPLICABLE STATE SECURITIES LAWS
SHALL HAVE BECOME EFFECTIVE WITH REGARD THERETO, OR (ii) IN THE OPINION OF
COUNSEL ACCEPTABLE TO THE COMPANY, REGISTRATION UNDER THE ACT OR SUCH APPLICABLE
STATE SECURITIES LAWS IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER.

                  The Holder agrees to execute such other documents and
instruments as counsel to the Company reasonably deems necessary to effect the
compliance of the issuance of this Warrant and any shares of Common Stock issued
upon exercise hereof with applicable federal and state securities laws,
including compliance with applicable exemptions from the registration
requirements of such laws.

                                       2
<PAGE>

(b) The Company covenants and agrees that all Warrant Shares which may be issued
upon exercise of this Warrant will, upon issuance and payment therefor, be
legally and validly issued and outstanding, fully paid and nonassessable. The
Company shall at all times reserve and keep available for issuance upon the
exercise of this Warrant such number of authorized but unissued shares of Common
Stock as will be sufficient to permit the exercise in full of this Warrant.

6.  REGISTRATION RIGHTS.

(a) The Company and the Holder agree that if at any time the Company shall
propose to file a registration statement with respect to any of its Common Stock
on a form suitable for an offering by a selling shareholder, it will give notice
in writing to such effect to the Holder at least thirty (30) days prior to such
filing, and, at the written request of the Holder made within ten (10) days
after the receipt of such notice, will include therein at the Company's cost and
expense (including the fees and expenses of one counsel to such Holder, but
excluding underwriting discounts, commissions and filing fees attributable to
the Warrant Shares included therein) such of the Warrant Shares as such Holder
shall request; provided that if the offering being registered by the Company is
underwritten and if the representative of the underwriters determines that the
inclusion therein of the Warrant Shares requested to be included would
materially and adversely affect the sale of the securities to be sold by the
Company thereunder, then the Company shall be required to include in the
offering only that number of securities, including the Warrant Shares, which the
underwriters determine in their sole discretion will not jeopardize the success
of the offering. Notwishstanding the foregoing, Holder may make only one request
to the Company for inclusion of Warrant Shares in a registration by the Company.

(b) The Company's obligations under Section 6(a) above with respect to each
Holder of Warrant Shares are expressly conditioned upon such Holder's furnishing
to the Company in writing such information concerning such Holder and the terms
of such Holder's proposed offering as the Company shall reasonably request for
inclusion in the registration statement. If any registration statement including
any of the Warrant Shares is filed, then the Company shall indemnify each Holder
thereof (and each underwriter for such Holder and each person, if any, who
controls such underwriter within the meaning of the Securities Act) from any
loss, claim, damage or liability arising out of, based upon or in any way
relating to any untrue statement of a material fact contained in such
registration statement or any omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading,
except for any such statement or omission based on information furnished in
writing by such Holder of the Warrant Shares expressly for use in connection
with such registration statement; and such Holder shall indemnify the Company
(and each of its officers and directors who has signed such registration
statement, each director, each person, if any, who controls the Company within
the meaning of the Securities Act, each underwriter for the Company and each
person, if any, who controls such underwriter within the meaning of the
Securities Act) and each other such Holder against any loss, claim, damage or
liability arising from any such statement or omission which was made in reliance
upon information furnished in writing to the Company by such Holder of the
Warrant Shares expressly for use in connection with such registration statement.

                                       3
<PAGE>

7. TRANSFER OF WARRANT. Subject to the provisions of Section 5, this Warrant may
be transferred by presentation of the Warrant to the Company with written
instructions for such transfer and by the execution by such transferee of an
investment letter in a form reasonably satisfactory to the Company only (a) by
operation of law or by reason of the reorganization of the Holder or (b) upon
the written consent of the Company. Upon such permitted transfer, the transferee
shall be subject to the same restrictions on transferability as provided under
this Section 7. Upon such presentation for transfer and receipt of such
investment letter from such holder in connection with such permitted transfer,
the Company shall promptly execute and deliver a new Warrant or Warrants
substantially in the form hereof in the name of the assignee or assignees and in
the denominations specified in such instructions. The Company shall pay all
expenses in connection with the preparation, issuance and delivery of Warrants
under this Section

8. WARRANT HOLDER NOT SHAREHOLDER. This Warrant does not confer upon the Holder,
as such, any right whatsoever as a shareholder of the Company.

9. ADJUSTMENT UPON CHANGES IN THE COMPANY COMMON STOCK.

(a) If all or any portion of this Warrant shall be exercised subsequent to any
stock split, stock dividend recapitalization, combination of shares of the
Company, or other similar event (but excluding the merger between the Company
and Trans-Century Resources, Inc., a Texas Corporation), occurring after the
date hereof, then the Holder exercising this Warrant shall receive, for the
aggregate price paid upon such exercise, the aggregate number and class of
shares which such Holder would have received if this Warrant had been exercised
immediately prior to the record date for such stock split, stock dividend,
recapitalization, combination of shares, or other similar event. If any
adjustment under this Section 9(a) would create a fractional share of Common
Stock or a right to acquire a fractional share of Common Stock, such fractional
share shall be disregarded and the number of shares subject to this Warrant
shall be the next higher number of shares, rounding all fractions upward.
Whenever there shall be an adjustment pursuant to this Section 9(a), the Company
shall forthwith notify the Holder or Holders of this Warrant of such adjustment,
setting forth in reasonable detail the event requiring the adjustment and the
method by which such adjustment was calculated.

(b) If all or any portion of this Warrant shall be exercised subsequent to any
merger, consolidation, exchange of shares, separation, reorganization or
liquidation of the Company, or other similar event (but excluding the merger
between the Company and Trans-Century Resources, Inc., a Texas Corporation),
occurring after the date hereof, as a result of which shares of Common Stock
shall be changed into the same or a different number of shares of the same or
another class or classes of securities of the Company or another entity, or the
holders of Common Stock are entitled to receive cash or other property, then the
Holder exercising this Warrant shall receive, for the aggregate price paid upon
such exercise, the aggregate number and class of shares, cash or other property
which such Holder would have received if this Warrant had been exercised
immediately prior to such merger, consolidation, exchange of shares, separation,

                                       4
<PAGE>

reorganization or liquidation, or other similar event. If any adjustment under
this Section 9(b) would create a fractional share of Common Stock or a right to
acquire a fractional share of Common Stock, such fractional share shall be
disregarded and the number of shares subject to this Warrant shall be the next
higher number of shares, rounding all fractions upward. Whenever there shall be
an adjustment pursuant to this Section 9(b), the Company shall forthwith notify
the Holder or Holders of this Warrant of such adjustment, setting forth in
reasonable detail the event requiring the adjustment and the method by which
such adjustment was calculated.

10. NOTICE OF CERTAIN EVENTS. In case:

(a) The Company shall take a record of the holders of its Common Stock for the
purpose of entitling them to receive any dividend or other distribution, or any
right to subscribe for or purchase any shares of capital stock of any class, or
to receive any other rights; or

(b) Of any capital reorganization, any reclassification of shares of capital
stock of the Company (other than a subdivision or combination of outstanding
shares of Common Stock to which Section 9 applies), or any consolidation or
merger of the Company or the sale or transfer of all or substantially all of the
assets of the Company; or

(c) Of any voluntary dissolution, liquidation, or winding up of the Company;

then the Company shall mail (at least thirty (30) days prior to the applicable
date referred to in subclause (x) or in subclause (y) below, as the case may
be), to the Holder at the address set forth in the Company's stock records, a
notice stating (x) the date on which a record is to be taken for the purpose of
such dividend, distribution, or rights, or, if a record is not to be taken, the
date as of which the holders of Common Stock of record to be entitled to such
dividend, distribution, or rights are to be determined, or (y) the date on which
such reclassification, capital reorganization, consolidation, merger, sale,
transfer dissolution, liquidation, or winding up is expected to become
effective, and, if applicable, the date as of which it is accepted that holders
of Common Stock of record shall be entitled to exchange their shares of Common
Stock for securities or other property deliverable upon such reclassification,
capital reorganization, consolidation, merger, sale, transfer, dissolution,
liquidation, or winding up.

                                       5
<PAGE>

         IN WITNESS WHEREOF, Trans-Century Resources, Inc. has caused this
Warrant to be executed by its duly authorized officer to be effective as of the
first date written above.

                                               TRANS-CENTURY RESOURCES, INC.

                                               By: /s/ Mary W. Patterson
                                                   ----------------------
                                                   Mary W. Patterson, President

Accepted:

PageOne Business Productions, LLC

By:    /s/ George A. Todt
     ------------------------
Name:  George A. Todt
Title: Managing Member

                                       6
<PAGE>

                                    EXHIBIT A

                               NOTICE OF EXERCISE

TO:      TRANS-CENTURY RESOURCES, INC.

         The undersigned, the Holder of the foregoing Warrant and pursuant to
the terms hereof, hereby elects to exercise rights represented by said Warrant
for, and to purchase thereunder, shares of the Company's Common Stock covered by
said Warrant, and tenders herewith payment of the purchase price in full for
such shares of $_________,

          The undersigned hereby requests that certificates for such shares (or
any other securities or other property issuable upon such exercise) be issued in
the name of and delivered to the undersigned at the address set forth below.

                                      Name ________________________________

Date:    ______________________
                                    Signature _____________________________

                                    Address:  _____________________________

                                              _____________________________

Please submit to:
Investor Relations
Trans-Century Resources, Inc.
8140 N. Mo-Pac, Westpark III
Suite 200
Austin, Texas 78759

                                       7
<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                                  Do not use this form to exercise the warrant.)

     FOR VALUE RECEIVED,  the foregoing Warrant and all rights evidenced thereby
are hereby assigned to

_____________________________________________________,  whose address is

_____________________________________________________

_____________________________________________________

                                Dated:  ______________, _______

              Holder's Signature:       _____________________________

              Holder's Address:         _____________________________

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in an fiduciary or other representative
capacity should file proper evidence of authority to assign the foregoing
Warrant.

                                       8

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