Document:

FORM
      OF

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    dated
      as
      of

     

    __________________,
      2007

     

    among

     

    NTR
      ACQUISITION CO.

     

    and

     

    OCCIDENTAL
      PETROLEUM INVESTMENT CO.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    TABLE
      OF CONTENTS

     

    
      	
              SECTION 1.
                DEFINITIONS

            	 	 	
              1

            	 
	
              SECTION 2.
                REGISTRATION RIGHTS

            	 	 	
              4

            	 
	
              SECTION 3.
                MISCELLANEOUS

            	 	 	
              19

            	 

    

    
       

      
        
        

      

      
        i

        
          

        

      

      
        
        

      

    

    REGISTRATION
      RIGHTS AGREEMENT

     

    REGISTRATION
      RIGHTS AGREEMENT (this “Agreement”),
      dated
      as of ______________________, 2007, by and among NTR ACQUISITION CO., a Delaware
      corporation (the “Company”)
      and
      OCCIDENTAL PETROLEUM INVESTMENT CO., a California corporation (“Occidental”).
      

     

    WHEREAS,
      Occidental owns [_____] shares (the “Shares”)
      of the
      Company’s Senior Convertible Preferred Stock, $1000 liquidation preference per
      share, par value $0.0001 per share, convertible into the Company’s common stock,
      par value $0.001 per share (the “Common
      Stock,”
      collectively, the “Securities”),
      all
      of which were acquired by private placement; 

     

    WHEREAS,
      Occidental may in certain circumstances and subject to certain transfer and
      other restrictions transfer (or cause to be transferred) some or all of the
      Securities to transferees who, on consummation of such transfer, hold not less
      than 10% of the Securities owned by Occidental on the date hereof (each, a
      “Permitted
      Transferee”);

     

    WHEREAS,
      Occidental and the Company desire to enter into this Agreement to provide
      Occidental with certain rights relating to the registration of the Securities,
      and to provide for any Permitted Transferees who receive Securities from time
      to
      time with the ability to accede to this agreement; 

     

    NOW,
      THEREFORE, in consideration of the foregoing and the mutual promises, covenants
      and agreements of the parties hereto, and for other good and valuable
      consideration the receipt and sufficiency of which are hereby acknowledged,
      the
      parties hereto agree as follows: 

     

    SECTION 1.
      DEFINITIONS

     

    1.1.
      Defined Terms. As
      used
      in this Agreement, the following terms shall have the following meanings:

     

    “Adverse
      Disclosure”
means
      public disclosure of material non-public information, which disclosure, in
      the
      good faith judgment of the chief executive officer or principal financial
      officer of the Company after consultation with counsel to the Company,
      (i) would be required to be made in any Registration Statement or
      prospectus in order for the applicable Registration Statement or prospectus
      not
      to contain any untrue statement of a material fact or omit to state a material
      fact necessary to make the statements therein (in the case of any prospectus
      and
      any preliminary prospectus, in light of the circumstances under which they
      were
      made) not misleading, (ii) would not be required to be made at such time if
      the Registration Statement were not being filed and (iii) the Company has a
bona
      fide
      business
      purpose for not publicly making it. 

    

    “Agreement”
has
      the
      meaning set forth in the preamble hereto. 

     

    
      
        
        

      

      
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    “Business
      Day”
means
      any day, except a Saturday, Sunday or legal holiday on which the banking
      institutions in the City of New York are authorized or obligated by law or
      executive order to close. 

     

    “Common
      Stock”
has
      the
      meaning set forth in the recitals. 

     

    “Company”
has
      the
      meaning set forth in the preamble and shall include the Company’s successors by
      merger, acquisition, reorganization or otherwise. 

     

    “Demand
      Registration”
has
      the
      meaning set forth in Section 2.2(a).
      

     

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

     

    “holder”
or
      “holders”
means
      any holder or holders of Registrable Securities who is a party hereto or who
      otherwise agrees in writing to be bound by the provisions of this Agreement
      pursuant to Section 3.3.
      

     

    “Incidental
      Registration”
has
      the
      meaning set forth in Section 2.3(a).
      

     

    “Initial
      Business Combination”
means
      the acquisition by the Company, through a merger, capital stock exchange, asset
      acquisition, stock purchase, reorganization or other similar business
      combination, of one or more businesses or assets in the energy industry.

     

    “Loss”
has
      the
      meaning set forth in Section 2.9(a).
      

     

    “NASD”
means
      the National Association of Securities Dealers, Inc. 

     

    “Occidental”
has
      the
      meaning set forth in the preamble hereto. 

     

    “Permitted
      Transferee”
has
      the
      meaning set forth in the recitals hereto.

     

    “Person”
shall
      be construed as broadly as possible and shall include an individual,
      corporation, association, partnership (including a limited liability partnership
      or a limited liability limited partnership), limited liability company, estate,
      trust, joint venture, unincorporated organization or a government or any
      department, agency or political subdivision thereof.

     

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

     

    
      
        
        

      

      
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    “Registrable
      Securities”
means
      the Shares and the shares of Common Stock issuable upon conversion of the Shares
      after the Release Date; provided,
      however,
      that
      any of the foregoing securities shall cease to be Registrable Securities to
      the
      extent that (i) a Registration Statement with respect to their sale has
      been declared effective under the Securities Act and they have been sold,
      transferred, disposed of or exchanged pursuant to such Registration Statement,
      (ii) they have been otherwise transferred pursuant to Rule 144 under the
      Securities Act (or any similar rule or regulation then in force), new
      certificates for them not bearing a legend restricting transfer under the
      Securities Act shall have been delivered by the Company and they may be publicly
      resold without volume or method of sale restrictions without registration under
      the Securities Act or (iii) they have ceased to be outstanding. For
      purposes of this Agreement, the shares of Common Stock issuable upon conversion
      of the Shares shall constitute one “class” of Registrable Securities and the
      Shares shall constitute another class of Registrable Securities; provided
      that
      no
      Registrable Securities shall be part of the relevant class until the Release
      Date. A “percentage” (or a “majority”) of the Registrable Securities or any
      class thereof (or, where applicable, of any other securities) shall be
      determined based on the total number of such securities outstanding at the
      relevant time. 

     

    “Registration”
means
      a
      registration of the Company’s securities for sale to the public under a
      Registration Statement. 

     

    “Registration
      Statement”
means
      any registration statement (other than a registration statement on Form S-4
      or
      Form S-8) of the Company for a public offering of the Company’s securities filed
      with, or to be filed with, the SEC under the rules and regulations promulgated
      under the Securities Act, including the prospectus, amendments and supplements
      to such registration statement, including post-effective amendments, and all
      exhibits and all material incorporated by reference in such registration
      statement. 

     

    “Release
      Date”
means
      the date that is 180 days from the date the Company completes its Initial
      Business Combination.

     

    “SEC”
means
      the Securities and Exchange Commission. 

     

    “Securities”
has
      the
      meaning set forth in the recitals.

     

    “Securities
      Act”
means
      the Securities Act of 1933, as amended, and any successor thereto, and any
      rules
      and regulations promulgated thereunder, all as the same shall be in effect
      from
      time to time. 

     

    “Shares”
      has the meaning set forth in the recitals.

     

    “Underwritten
      Offering”
means
      a
      registration in which securities of the Company are sold to an underwriter
      or
      underwriters on a firm commitment basis for reoffering to the public.

    

    1.2.
      General Interpretive Principles.

     

    Whenever
      used in this Agreement, except as otherwise expressly provided or unless the
      context otherwise requires, any noun or pronoun shall be deemed to include
      the
      plural as well as the singular and to cover all genders. The name assigned
      to
      this Agreement and the section captions used herein are for convenience of
      reference only and shall not be construed to affect the meaning, construction
      or
      effect hereof. Unless otherwise specified, the terms “hereof,” “herein,”
“hereunder” and similar terms refer to this Agreement as a whole (including the
      exhibits, schedules and disclosure statements hereto), and references herein
      to
      Sections refer to Sections of this Agreement. Any reference to included items
      shall be understood to be without limitation to the items listed.

     

    
      
        
        

      

      
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    SECTION 2.
      REGISTRATION RIGHTS 

     

    2.1.
      Registrations
      on Form S-3.
      

     

    (a)
      Filing.
      The
      holders of Registrable Securities may at any time and from time to time on
      or
      after the Release Date, request in writing that the Company register the resale
      of any or all of such Registrable Securities on Form S-3 or a successor or
      other
      appropriate, similar short-form registration which may be available at such
      time
      (“Form
      S-3”);
      provided,
      however,
      that
      (i) the Company shall not be obligated to effect such request through an
      Underwritten Offering and (ii) the Company shall not be obligated to effect
      such a request if the Company has within the preceding six (6) months
      effected a registration on Form S-3. Upon receipt of such written request,
      the
      Company will promptly give written notice of the proposed registration to all
      other holders of Registrable Securities, and, as soon as practicable thereafter,
      effect the registration of all or such portion of such holder’s or holders’
Registrable Securities as are specified in such request, together with all
      or
      such portion of the Registrable Securities of any other holder or holders
      joining in such request as are specified in a written request given within
      fifteen (15) business days after receipt of such written notice from the
      Company; provided,
      however,
      that
      the Company shall not be obligated to effect any such registration pursuant
      to
      this Section 2.1:
      (i) if Form S-3 is not available for such offering; or (ii) if the
      holders of the Registrable Securities, together with the holders of any other
      securities of the Company entitled to inclusion in such registration, propose
      to
      sell Registrable Securities at an aggregate offering price to the public of
      less
      than $500,000. Registrations effected pursuant to this Section 2.1
      shall
      not be counted as Demand Registrations effected pursuant to Section 2.2.
      

     

    (b)
      Suspension
      of Registration.
      If the
      filing, initial effectiveness or continued use of Form S-3 at any time would
      require the Company to make an Adverse Disclosure or would require the inclusion
      in such Form S-3 of financial statements that are unavailable to the Company
      for
      reasons beyond the Company’s control, the Company may, upon giving prompt
      written notice of such action to the holders, delay the filing or initial
      effectiveness of, or suspend use of, the Form S-3 for the shortest period of
      time determined in good faith by the Company to be necessary for such purpose.
      In the event the Company exercises its rights under the preceding sentence,
      the
      holders agree to suspend, immediately upon their receipt of the notice referred
      to above, their use of the prospectus relating to the registration on such
      Form
      S-3 in connection with any sale or offer to sell Registrable Securities and
      agree not to disclose to any other Person the fact that the Company has
      exercised such rights or any related facts except as may be required by law,
      rule or stock exchange requirement. The Company shall immediately notify the
      holders on the expiration of any period during which it exercised its rights
      under this Section 2.1(b).
      

     

    
      
        
        

      

      
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    2.2.
      Demand Registrations.
      

     

    (a)
      Demand
      by Holders.
      (i) At any time and from time on or after the applicable Release Date, the
      holders of not less than a majority of any class of the Registrable Securities
      may make a written request to the Company for registration of all or part of
      each such class of Registrable Securities held by those holders; provided
      that the
      estimated market value of the Registrable Securities of all classes to be so
      registered thereunder is at least $500,000 in the aggregate. Any such requested
      registration shall be referred to as a “Demand
      Registration.”
Each
      request for a Demand Registration shall specify the class(es) and aggregate
      amount(s) of Registrable Securities to be registered and the intended methods
      of
      distribution thereof. 

     

    (ii)
      Within five (5) business days following receipt of any request for a Demand
      Registration, the Company shall deliver written notice of such request to all
      other holders of Registrable Securities of the class or classes to be
      registered. Thereafter, the Company shall include in such Demand Registration
      any additional Registrable Securities of each such class which the holder or
      holders thereof have requested in writing be included in such Demand
      Registration; provided
      that all
      such requests have been received by the Company within ten (10) business
      days of the Company’s having sent the applicable notice to such holder or
      holders (each such holder, including the holder of Registrable Securities
      identified in such Demand Registration, a “Demanding
      Holder”).
      All
      such requests shall specify the class and aggregate amount of Registrable
      Securities to be registered and the intended method of distribution. The Company
      may include in such registration additional securities of the class or classes
      of the Registrable Securities to be registered thereunder, including securities
      to be sold for the Company’s own account or for the account of Persons who are
      not holders of Registrable Securities. 

     

    (iii)
      As
      promptly as practicable, and, in any event, within sixty (60) days
      following receipt of a request for a Demand Registration, the Company shall
      file
      a Registration Statement relating to such Demand Registration and thereafter
      the
      Company shall use its reasonable best efforts to cause such Registration
      Statement to be declared effective under the Securities Act. 

     

    (b)
      Limitation
      on Demand Registrations.
      In no
      event shall the Company be required to effect more than two (2) Demand
      Registrations.

     

    (c)
      Demand
      Withdrawal.
      A
      holder may withdraw its Registrable Securities from a Demand Registration at
      any
      time. If all holders withdraw, or holders withdraw Registrable Securities from
      a
      Demand Registration in such amounts that the Registrable Securities of all
      classes that remain covered by the relevant Registration Statement have an
      estimated market value of less than $500,000, the Company shall cease all
      efforts to secure registration and such registration shall be deemed a Demand
      Registration for purposes of Section 2.2(b)
      unless
      the withdrawal is based on the reasonable determination of the Demanding Holders
      that there has been, since the date of such request, a material adverse change
      in the business or prospects of the Company or in general market conditions.
      In
      the event that a withdrawal by Demanding Holders is based upon material adverse
      information relating to the Company that is different from the information
      known
      or reasonably available to the Demanding Holders at the time of their request
      for a Demand Registration, such registration shall not be counted as a Demand
      Registration.

     

    
      
        
        

      

      
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    (d)
      Effective
      Registration.
      The
      Company shall be deemed to have effected a Demand Registration if the applicable
      Registration Statement is declared effective by the SEC and remains effective
      for not less than 180 days (or such shorter period as will terminate when all
      Registrable Securities covered by such Registration Statement have been sold
      or
      withdrawn) plus such number of days as the Company exercises its rights under
      Section
      2.2(e)
      and the
      Company has complied with all of its obligations under this Agreement with
      respect thereto; provided,
      however,
      that
      if, after such Registration Statement has been declared effective, the offering
      of Registrable Securities pursuant to a Demand Registration is interfered with
      by any stop order or injunction of the SEC or any other governmental agency
      or
      court, the Registration Statement with respect to such Demand Registration
      will
      be deemed not to have been declared effective, unless and until, (i) such
      stop order or injunction is removed, rescinded or otherwise terminated, and
      (ii) holders of a majority of the relevant class or classes of Registrable
      Securities thereafter elect to continue the offering; provided,
      further,
      that
      the Company shall not be obligated to file a second Registration Statement
      until
      a Registration Statement that has been filed is counted as a Demand Registration
      or is terminated. 

     

    (e)
      Suspension
      of Registration.
      If the
      filing, initial effectiveness or continued use of a Registration Statement
      in
      respect of a Demand Registration at any time would require the Company to make
      an Adverse Disclosure or would require the inclusion in such Registration
      Statement of financial statements that are unavailable to the Company for
      reasons beyond the Company’s control, the Company may, upon giving prompt
      written notice of such action to the holders, delay the filing or initial
      effectiveness of, or suspend use of, such Registration Statement for the
      shortest possible period of time determined in good faith by the Company to
      be
      necessary for such purpose. In the event the Company exercises its rights under
      the preceding sentence, the holders agree to suspend, immediately upon their
      receipt of the notice referred to above, their use of the prospectus relating
      to
      the Demand Registration in connection with any sale or offer to sell Registrable
      Securities. The Company shall immediately notify the holders of the expiration
      of any period during which it exercised its rights under this Section 2.2(e).
      

     

    (f)
      Underwritten
      Offering.
      If the
      holders of not less than a majority of the Registrable Securities of any class
      that is included in any offering pursuant to a Demand Registration so elect,
      the
      offering of all of the Registrable Securities of that class shall be in the
      form
      of an Underwritten Offering and the right of any holder to include Registrable
      Securities of that class in the Demand Registration shall be conditioned upon
      such holder’s participation in the Underwritten Offering. The holders of a
      majority of the class of Registrable Securities included in such Underwritten
      Offering shall, in consultation with the Company, have the right to select
      the
      managing underwriter or underwriters for the offering, subject to the right
      of
      the Company should it so choose to select one co-managing underwriter reasonably
      acceptable to such holders. All holders proposing to distribute their
      Registrable Securities through such an underwriting shall enter into an
      underwriting agreement in customary form with the underwriter(s) selected for
      such underwriting. 

     

    
      
        
        

      

      
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    (g)
      Reduction
      of Offering.
      If the
      managing underwriter or underwriters of a proposed Underwritten Offering of
      a
      class of Registrable Securities included in a Demand Registration, inform the
      holders of such Registrable Securities and the Company (or the holders of
      Registrable Securities who have requested the Demand Registration in the case
      of
      a Demand Registration that is not being underwritten, inform the Company) in
      writing that, in its or their opinion, the number of securities of such class
      requested to be included in such Demand Registration, including securities
      of
      the Company for its own account or for the account of other Persons who are
      not
      holders of Registrable Securities that the Company desires to sell and any
      securities as to which registration has been requested pursuant to written
      piggy-back registration rights (as described in Section 2.3),
      exceeds the maximum dollar amount or maximum number of securities, as
      applicable, that can be sold in such offering without being likely to have
      a
      significant adverse effect on the price, timing or distribution of the class
      of
      securities offered or the market for the class of securities offered (such
      maximum dollar amount or maximum number of securities, as applicable, the
“Maximum
      Number of Securities”),
      then
      the Company shall include in such registration: 

     

    (i)
      first, Registrable Securities as to which Demand Registration has been requested
      by the Demanding Holders, in an amount up to but not exceeding the Maximum
      Number of Securities (allocated pro
      rata
      among
      the holders who have requested participation in the Demand Registration, based,
      for each such holder, on the percentage derived by dividing (x) the number
      of Registrable Securities of such class which such holder has requested to
      include in such Demand Registration by (y) the aggregate number of
      Registrable Securities of such class which all such holders have requested
      to
      include); 

     

    (ii)
      second, to the extent that the Maximum Number of Securities has not been reached
      under the foregoing clause (i), securities that the Company desires to sell
      that
      can be sold without exceeding the Maximum Number of Securities; 

     

    (iii)
      third, to the extent that the Maximum Number of Securities has not been reached
      under the foregoing clauses (i) and (ii), securities for the account of
      other Persons that the Company is obligated to register pursuant to written
      contractual arrangements with such Persons and that can be sold without
      exceeding the Maximum Number of Securities; and 

     

    (iv)
      fourth, to the extent that the Maximum Number of Securities have not been
      reached under the foregoing clauses (i), (ii), and (iii), securities that other
      security holders of the Company desire to sell that can be sold without
      exceeding the Maximum Number of Securities. 

     

    To
      the
      extent that any Registrable Securities requested to be registered are excluded
      pursuant to the foregoing provisions, the holders shall have the right to one
      additional Demand Registration under this Section 2.2.

     

    
      
        
        

      

      
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    (h)
      Registration
      Statement Form.
      Registrations under this Section 2.2
      shall be
      on such appropriate registration form of the SEC (i) as shall be selected
      by the Company and as shall be reasonably acceptable to the holders of a
      majority of each class of Registrable Securities requesting participation in
      the
      Demand Registration and (ii) as shall permit the disposition of the
      Registrable Securities in accordance with the intended method or methods of
      disposition specified in the applicable holders’ requests for such registration.
      Notwithstanding the foregoing, if, pursuant to a Demand Registration,
      (x) the Company proposes to effect registration by filing a Registration
      Statement on Form S-3, (y) such registration is in connection with an
      Underwritten Offering and (z) the managing underwriter or underwriters
      shall advise the Company in writing that, in its or their opinion, the use
      of
      another form of registration statement (or the inclusion, rather than the
      incorporation by reference, of information in the prospectus related to a
      Registration Statement on Form S-3) is of material importance to the success
      of
      such proposed offering, then such registration shall be effected on such other
      form (or such information shall be so included in such prospectus).

     

    2.3.
      Incidental Registrations (“Piggy-Back” Registrations). 

     

    (a)
      Participation.
      (i) If at any time on or after the Release Date, the Company proposes to
      file a Registration Statement with respect to any offering of its securities
      for
      its own account or for the account of any holders of its securities (or by
      the
      Company and by security holders of the Company, including, without limitation,
      pursuant to Section 2.2),
      other
      than (A) a registration of securities relating solely to an offering and
      sale to employees or directors of the Company pursuant to any employee stock
      plan or other employee benefit plan arrangement, (B) a registration on Form
      S-4 or S-8 or any successor form to such forms, (C) an exchange offer or
      offering of securities solely to the Company’s existing shareholders, (D) 
a dividend reinvestment plan, or (E) solely in connection with a merger,
      consolidation or non-capital raising bona
      fide
      business
      transaction, then, as soon as practicable (but in no event less than ten
      (10) business days prior to the proposed date of filing such Registration
      Statement), the Company shall give written notice of such proposed filing to
      all
      holders of Registrable Securities, which notice shall describe the amount and
      class of securities to be included in such offering, the intended method(s)
      of
      distribution, and the name of the proposed managing underwriter or underwriters,
      if any, of the offering, and such notice shall offer the holders of such
      Registrable Securities the opportunity to register such number of Registrable
      Securities as each such holder may request in writing (an “Incidental
      Registration”).
      Subject to Section 2.3(b),
      the
      Company shall include in such Registration Statement all such Registrable
      Securities requested to be included therein within five (5) business days
      after the receipt by such holder of any such notice, on the same terms and
      conditions as any similar securities of the Company. If at any time after giving
      written notice of its intention to register any securities and prior to the
      effective date of the Registration Statement filed in connection with such
      registration, the Company shall determine for any reason not to register or
      to
      delay registration of such securities, the Company may, at its election, give
      written notice of such determination to each holder of Registrable Securities
      and, (x) in the case of a determination not to register, shall be relieved
      of its obligation to register any Registrable Securities in connection with
      such
      registration, and (y) in the case of a determination to delay registering,
      shall be permitted to delay registering any Registrable Securities for the
      same
      period as the delay in registering such other securities. 

     

    
      
        
        

      

      
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    (ii)
      If
      the offering pursuant to an Incidental Registration is to be an Underwritten
      Offering, then each holder making a request for its Registrable Securities
      to be
      included therein must, and the Company shall use its best efforts to make such
      arrangements with the underwriters so that each such holder may, participate
      in
      such Underwritten Offering on the same terms and conditions as the Company
      and
      other Persons selling securities in such Underwritten Offering. If the offering
      pursuant to such registration is to be on any other basis, then each holder
      making a request for an Incidental Registration pursuant to this Section 2.3(a)
      must
      participate in such offering on such basis. 

     

    (iii)
      Each holder of Registrable Securities shall be permitted to withdraw all or
      part
      of such holder’s Registrable Securities from an Incidental Registration at any
      time; 

     

    (b)
      Reduction
      of Incidental Registration.
      If the
      managing underwriter or underwriters of any proposed Underwritten Offering
      of a
      class of securities included in an Incidental Registration (or in the case
      of an
      Incidental Registration not being underwritten, the Company) informs the holders
      of Registrable Securities of any class sought to be included in such
      registration in writing that, in its or their opinion, the total amount or
      kind
      of securities which such holders and any other Persons intend to include in
      such
      offering exceeds the number which can be sold in such offering without being
      likely to have a significant adverse effect on the price, timing or distribution
      of the class or classes of the securities offered or the market for the class
      or
      classes of securities offered or the Company’s common stock, then the securities
      of each class to be included in such registration shall be allocated as follows:
      

     

    (i)
      if
      the registration is undertaken for the Company’s account: (x) first, the
      securities that the Company desires to sell that can be sold without exceeding
      the Maximum Number of Securities and (y) second, to the extent that the
      Maximum Number of Securities has not been reached under the foregoing clause
      (x), securities, if any, including the Registrable Securities, as to which
      registration has been requested pursuant to written contractual incidental
      registration rights of security holders (including this Agreement) that can
      be
      sold without exceeding the Maximum Number of Securities (pro
      rata in
      accordance with the number of shares or other securities which each such Person
      has actually requested to be included in such registration); 

     

    (ii)
      if
      the registration is a demand registration undertaken by Persons with demand
      rights pursuant to a written contractual arrangement other than this Agreement,
      (w) first, securities for the account of the demanding Persons that can be
      sold without exceeding the Maximum Number of Securities, (x) second, to the
      extent that the Maximum Number of Securities has not been reached under the
      foregoing clause (w), securities that the Company desires to sell and that
      can
      be sold without exceeding the Maximum Number of Securities, (y) third, to
      the extent that the Maximum Number of Securities has not been reached under
      the
      foregoing clauses (w) and (x), securities (including the Registrable
      Securities) as to which registration has been requested pursuant to a written
      contractual incidental registration rights of security holders (including this
      Agreement) that can be sold without exceeding the Maximum Number of Securities
      (pro
      rata
      in
      accordance with the number of shares or other securities which each such Person
      has actually requested to be included in such registration), and
      (z) fourth, to the extent that the Maximum Number of Securities have not
      been reached under the foregoing clauses (w), (x) and (y), securities that
      other security holders desire to sell without exceeding the Maximum Number
      of
      Securities. 

     

    
      
        
        

      

      
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    2.4.
      Registration Procedures 

     

    (a)
      In
      connection with the Company’s registration obligations in this Agreement, the
      Company will, subject to the limitations set forth herein, use its reasonable
      best efforts to effect any such registration so as to permit the sale of the
      applicable Registrable Securities in accordance with the intended method or
      methods of distribution thereof as expeditiously as reasonably practicable,
      and
      in connection therewith the Company will:

     

    (i)
      before filing a Registration Statement or prospectus, or any amendments or
      supplements thereto and in connection therewith, furnish to the underwriter
      or
      underwriters, if any, and to the holders of the Registrable Securities included
      in such registration, and such holders’ legal counsel, copies of all documents
      prepared to be filed, which documents will be subject to the review of such
      underwriters and such holders and their counsel and, except in the case of
      an
      Incidental Registration under Section 2.3,
      will
      not file any Registration Statement or prospectus or amendments or supplements
      thereto to which a majority of such holders or the underwriter or underwriters,
      if any, shall reasonably object; 

     

    (ii)
      prepare and file with the SEC such amendments or supplements to the applicable
      Registration Statement or prospectus as may be (A) reasonably requested by
      any participating holder (to the extent such request relates to information
      relating to such holder), (B) necessary to keep such registration effective
      for the period of time required by this Agreement or (C) reasonably
      requested by the holders of a majority of any class of the participating
      Registrable Securities; 

     

    (iii)
      notify the selling holders of Registrable Securities and the managing
      underwriter or underwriters, if any, and (if requested) confirm such advice
      in
      writing, as soon as reasonably practicable after notice thereof is received
      by
      the Company (A) when the applicable Registration Statement or any amendment
      thereto has been filed or becomes effective and when the applicable prospectus
      or any amendment or supplement thereto has been filed, (B) of any written
      comments by the SEC or any request by the SEC or any other federal or state
      governmental authority for amendments or supplements to such Registration
      Statement or prospectus or for additional information, (C) of the issuance
      by the SEC or any other governmental agency or court of any stop order
      suspending the effectiveness of such Registration Statement or any order
      preventing or suspending the use of any preliminary or final prospectus or
      the
      initiation or threat of any proceedings for such purposes and (D) of the
      receipt by the Company of any notification with respect to the suspension of
      the
      qualification of the Registrable Securities for offering or sale in any
      jurisdiction or the initiation; 

     

    
      
        
        

      

      
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    (iv)
      promptly notify each selling holder of Registrable Securities and the managing
      underwriter or underwriters, if any, when the Company becomes aware of the
      happening of any event as a result of which the applicable Registration
      Statement or prospectus (as then in effect) contains any untrue statement of
      a
      material fact or omits to state a material fact necessary to make the statements
      therein (in the case of the prospectus and any preliminary prospectus, in light
      of the circumstances under which they were made) not misleading or, if for
      any
      other reason it shall be necessary to amend or supplement such Registration
      Statement or prospectus in order to comply with the Securities Act and, in
      either case as promptly as reasonably practicable thereafter, prepare and file
      with the SEC an amendment or supplement to such Registration Statement or
      prospectus which will correct such statement or omission or effect such
      compliance; 

     

    (v)
      make
      every reasonable effort to prevent, or obtain at the earliest possible moment
      the withdrawal of, any stop order with respect to the applicable Registration
      Statement or other order suspending the use of any preliminary or final
      prospectus; 

     

    (vi)
      promptly incorporate in a prospectus supplement or post-effective amendment
      to
      the applicable Registration Statement such information as the managing
      underwriter or underwriters, if any, or the holders of a majority of the
      Registrable Securities of the class being sold agree should be included therein
      relating to the plan of distribution with respect to such Registrable
      Securities; and make all required filings of such prospectus supplement or
      post-effective amendment as soon as reasonably practicable after being notified
      of the matters to be incorporated in such prospectus supplement or
      post-effective amendment; 

     

    (vii)
      furnish to each selling holder of Registrable Securities and each managing
      underwriter, if any, without charge, as many conformed copies as such holder
      or
      managing underwriter may reasonably request of the applicable Registration
      Statement; 

     

    (viii)
      deliver to each selling holder of Registrable Securities and each managing
      underwriter, if any, without charge, as many copies of the applicable prospectus
      (including each preliminary prospectus) as such holder or managing underwriter
      may reasonably request (its being understood that the Company consents to the
      use of the prospectus by each of the selling holders of Registrable Securities
      and the underwriter or underwriters, if any, in connection with the offering
      and
      sale of the Registrable Securities covered by the prospectus) and such other
      documents as such selling holder or managing underwriter may reasonably request
      in order to facilitate the disposition of the Registrable Securities by such
      holder or underwriter; 

     

    (ix)
      on
      or prior to the date on which the applicable Registration Statement is declared
      effective, use its reasonable best efforts to register or qualify such
      Registrable Securities for offer and sale under the securities or “Blue Sky”
laws of each state and other jurisdiction of the United States, as any such
      selling holder or underwriter, if any, or their respective counsel reasonably
      requests in writing, and do any and all other acts or things reasonably
      necessary or advisable to keep such registration or qualification in effect
      so
      as to permit the commencement and continuance of sales and dealings in such
      jurisdictions for as long as may be necessary to complete the distribution
      of
      the Registrable Securities covered by the Registration Statement; provided,
      however,
      that
      the Company will not be required to qualify generally to do business in any
      jurisdiction where it is not then so qualified or to take any action which
      would
      subject it to taxation or general service of process in any such jurisdiction
      where it is not then so subject; 

     

    
      
        
        

      

      
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    (x)
      cooperate with the selling holders of Registrable Securities and the managing
      underwriter, underwriters or agent, if any, to facilitate the timely preparation
      and delivery of certificates representing Registrable Securities to be sold
      and
      not bearing any restrictive legends; 

     

    (xi)
      not
      later than the effective date of the applicable Registration Statement, provide
      a CUSIP number for all Registrable Securities and provide the applicable
      transfer agent with printed certificates for the Registrable Securities which
      certificates shall be in a form eligible for deposit with The Depository Trust
      Company; 

     

    (xii)
      obtain for delivery to the holders of each class of Registrable Securities
      being
      registered and to the underwriter or underwriters, if any, an opinion or
      opinions from counsel for the Company dated the effective date of the
      Registration Statement or, in the event of an Underwritten Offering, the date
      of
      the closing under the underwriting agreement, in customary form, scope and
      substance, at a minimum to the effect that the Registration Statement has been
      declared effective and that no stop order is in effect, which counsel and
      opinions shall be reasonably satisfactory to a majority of the holders of each
      such class and underwriter or underwriters, if any, and their respective
      counsel; 

     

    (xiii)
      in
      the case of an Underwritten Offering, obtain for delivery to the Company and
      the
      underwriter or underwriters, if any, with copies to the holders of Registrable
      Securities included in such registration, such cold comfort letter(s) from
      the
      Company’s independent registered public accounting firm in customary form and
      covering such matters of the type customarily covered by cold comfort letters
      as
      the managing underwriter or underwriters reasonably request; 

     

    (xiv)
      cooperate with each seller of Registrable Securities and each underwriter or
      agent, if any, participating in the disposition of such Registrable Securities
      and their respective counsel in connection with any filings required to be
      made
      with the NASD; 

     

    (xv)
      use
      its reasonable best efforts to comply with all applicable rules and regulations
      of the SEC and make generally available to its security holders, as soon as
      reasonably practicable (but not more than 15 months) after the effective date
      of
      the applicable Registration Statement, an earnings statement satisfying the
      provisions of Section 11(a) of the Securities Act and the rules and
      regulations promulgated thereunder; 

     

    (xvi)
      provide and cause to be maintained a transfer agent and registrar for all
      Registrable Securities covered by the applicable Registration Statement from
      and
      after a date not later than the effective date of such Registration Statement;
      

     

    (xvii)
      cause all Registrable Securities of a class covered by the applicable
      Registration Statement to be listed on each securities exchange on which any
      of
      the Company’s securities of such class are then listed or quoted and on each
      inter-dealer quotation system on which any of the Company’s securities of such
      class are then quoted; 

     

    
      
        
        

      

      
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    (xviii)
      make available upon reasonable notice at reasonable times and for reasonable
      periods for inspection by a representative appointed by the holders of a
      majority of the Registrable Securities of each class covered by the applicable
      Registration Statement, by any managing underwriter or underwriters
      participating in any disposition to be effected pursuant to such Registration
      Statement and by any attorney, accountant or other agent retained by such
      sellers or any such managing underwriter, all pertinent financial and other
      records, pertinent corporate documents and properties of the Company, and cause
      all of the Company’s officers, directors and employees and the independent
      public accountants who have certified its financial statements to make
      themselves available to discuss the business of the Company and to supply all
      information reasonably requested by any such seller, underwriter, attorney,
      accountant or agent in connection with such Registration Statement as shall
      be
      necessary to enable them to exercise their due diligence responsibility (subject
      to the entry by each party referred to in this clause (xviii) into
      customary confidentiality agreements in a form reasonably acceptable to the
      Company); and 

     

    (xix)
      in
      the case of an Underwritten Offering, cause senior executive officers of the
      Company to participate in customary “road show” presentations that may be
      reasonably requested by the managing underwriter in any such Underwritten
      Offering and otherwise to facilitate, cooperate with, and participate in each
      proposed offering contemplated herein and customary selling efforts related
      thereto. 

     

    (b)
      The
      Company may require each selling holder of Registrable Securities as to which
      any registration is being effected to furnish to the Company such information
      regarding the distribution of such Securities and such other information
      relating to such holder and its ownership of the applicable Registrable
      Securities as the Company may from time to time reasonably request and as is
      reasonably required in connection with any registration, qualification or
      compliance referred to in this Agreement. Each holder of Registrable Securities
      agrees to furnish such information to the Company and to cooperate with the
      Company as necessary to enable the Company to comply with the provisions of
      this
      Agreement. The Company shall have the right to exclude any holder that does
      not
      comply with the preceding sentence from the applicable registration.

     

    2.5.
      Underwritten Offerings. 

     

    (a)
      Underwriting
      Agreements.
      If
      requested by the underwriters for any Underwritten Offering requested by holders
      pursuant to Sections
      2.1
      or
2.2,
      the
      Company and the holders of Registrable Securities to be included therein shall
      enter into an underwriting agreement with such underwriters, such agreement
      to
      be reasonably satisfactory in substance and form to the Company, the holders
      of
      a majority of each class of the Registrable Securities to be included in such
      Underwritten Offering and the underwriters, and to contain such terms and
      conditions as are generally prevailing in agreements of that type, including,
      without limitation, indemnities no less favorable to the recipient thereof
      than
      those provided in Section 2.9.
      The
      holders of any Registrable Securities to be included in any Underwritten
      Offering pursuant to Section 2.3
      shall
      enter into such an underwriting agreement at the request of the Company. All
      of
      the representations and warranties and the other agreements by and on the part
      of the Company to and for the benefit of the underwriters included in any such
      underwriting agreement shall also be made to and for the benefit of such
      holders, and any or all of the conditions precedent to the obligations of the
      underwriters under such underwriting agreement shall be conditions precedent
      to
      the obligations of such holders. No holder shall be required in any such
      underwriting agreement to make any representations or warranties to or
      agreements with the Company or the underwriters other than representations,
      warranties or agreements regarding such holder, such holder’s Registrable
      Securities, such holder’s intended method of distribution and any other
      representations required by law. 

     

    
      
        
        

      

      
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    (b)
      Price
      and Underwriting Discounts.
      In the
      case of an Underwritten Offering requested by holders pursuant to Sections
      2.1
      or
2.2,
      the
      price, underwriting discount and other financial terms of the related
      underwriting agreement for each class of Registrable Securities shall be
      determined by the holders of a majority of such class of Registrable Securities.
      In the case of any Underwritten Offering pursuant to Section 2.3,
      such
      price, discount and other terms shall be determined by the Company, subject
      to
      the right of the holders to withdraw their request to participate in the
      registration pursuant to Section 2.3(a)(iii)
      after
      being advised of such price, discount and other terms. 

     

    (c)
      Participation
      in Underwritten Offerings.
      No
      Person may participate in an Underwritten Offering unless such Person
      (i) agrees to sell such Person’s securities on the basis provided in the
      underwriting arrangements approved by the Persons entitled to approve such
      arrangements and (ii) completes and executes all questionnaires, powers of
      attorney, indemnities, underwriting agreements and other documents required
      under the terms of such underwriting arrangements. 

     

    2.6.
      No Inconsistent Agreements; Additional Rights.
      The
      Company will not enter into, and is not currently a party to, any agreement
      that
      is inconsistent with the rights granted to the holders of Registrable Securities
      by this Agreement. 

     

    
      
        
        

      

      
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    2.7.
      Obligation to Suspend Distribution. (a)
      Each
      holder of Registrable Securities agrees by acquisition of such Registrable
      Securities that, upon receipt of any notice from the Company of the happening
      of
      any events of the kind described in Sections
      2.4(a)(iii)(C),
      2.4(a)(iii)(D)(in
      any
      applicable state) or 2.4(a)(iv),
      such
      holder will discontinue disposition of its Registrable Securities pursuant
      to
      the Registration Statement, in the case of Section 2.4(a)(iv),
      until
      the holder receives copies of the supplemented or amended prospectus
      contemplated by Section 2.4(a)(iv),
      or in
      any case until the holder is advised in writing by the Company that the use
      of
      the prospectus may be resumed, and receives copies of any additional or
      supplemental filings that are incorporated by reference in the prospectus and,
      if so directed by the Company, the holder will deliver to the Company (at the
      Company’s expense) all copies, other than permanent file copies then in such
      holder’s possession, of the prospectus covering such Registrable Securities that
      are current at the time of the receipt of such notice. In the event that the
      Company shall give any such notice in respect of a Demand Registration, the
      period during which the applicable Registration Statement is required to be
      maintained effective shall be extended by the number of days during the period
      from and including the date of the giving of such notice to and including the
      date when each seller of Registrable Securities covered by such Registration
      Statement either receives the copies of the supplemented or amended prospectus
      contemplated by Section 2.4(a)(iv)
      or is
      advised in writing by the Company that the use of the prospectus may be resumed.
      

     

    (b)
      In
      the case of a resale registration on Form S-3 pursuant to Section 2.1,
      upon
      any suspension by the Company, pursuant to a written insider trading compliance
      program adopted by the Company’s board of directors, of the ability of all
“insiders” covered by such program to transact in the Company’s securities
      because of the existence of material non-public information, each holder of
      Registrable Securities included in any registration shall immediately
      discontinue disposition of such Registrable Securities pursuant to the
      Registration Statement covering such Registrable Securities until the
      restriction on the ability of “insiders” to transact in the Company’s securities
      is removed. 

     

    2.8.
      Registration Expenses. (a)
      The
      Company shall pay all of the expenses set forth in this paragraph (a) in
      connection with a registration under this Agreement of Registrable Securities.
      Such expenses are (i) all registration and filing fees, and any other fees
      and expenses associated with filings required to be made with the SEC or the
      NASD, (ii) all fees and expenses of compliance with state securities or
“Blue Sky” laws, (iii) all printing, duplicating, word processing,
      messenger, telephone, facsimile and delivery expenses (including expenses of
      printing certificates for the Registrable Securities in a form eligible for
      deposit with The Depository Trust Company and of printing prospectuses),
      (iv) all fees and disbursements of counsel for the Company and of all
      independent certified public accountants of the Company, (v) Securities Act
      liability insurance or similar insurance if the Company so desires and
      (vi) all fees and expenses incurred in connection with the listing of the
      Registrable Securities on any securities exchange or the quotation of the
      Registrable Securities on any inter-dealer quotation system. In addition, in
      all
      cases the Company shall pay its internal expenses (including, without
      limitation, all salaries and expenses of its officers and employees performing
      legal or accounting duties), the expense of any audit and the fees and expenses
      of any other Persons retained by the Company, including any special experts.
      In
      addition, the Company shall pay all reasonable fees and disbursements not to
      exceed $200,000 of one law firm or other counsel selected by the holders of
      a
      majority of the Registrable Securities being registered. 

     

    
      
        
        

      

      
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    (b)
      The
      Company shall not be required to pay any other costs or expenses in the course
      of the transactions contemplated hereby, including underwriting discounts and
      commissions and transfer taxes attributable to the sale of Registrable
      Securities and the fees and expenses of any counsel to any holder of Registrable
      Securities other than as provided pursuant to the last sentence of the preceding
      paragraph (a), or of counsel to the underwriters. 

     

    2.9.
      Indemnification.
      (a)
      Indemnification
      by the Company.
      The
      Company agrees to indemnify and hold harmless, to the full extent permitted
      by
      law, each holder of Registrable Securities and their respective officers,
      directors, employees, advisors and agents and each Person who controls, is
      controlled by, or is under common control with (within the meaning of the
      Securities Act) such Persons from and against any and all losses, claims,
      damages, liabilities (or actions, proceedings or settlements in respect thereof,
      whether or not such indemnified party is a party thereto) and expenses
      (including reasonable costs of investigation and legal expenses), joint or
      several (each, a “Loss”
and
      collectively “Losses”),
      arising out of or based upon (i) any untrue or alleged untrue statement of
      a material fact contained in any Registration Statement under which such
      Registrable Securities were registered under the Securities Act (including
      any
      final, preliminary or summary prospectus contained therein or any amendment
      thereof or supplement thereto or any documents incorporated by reference therein
      or otherwise incident thereto), (ii) any omission or alleged omission to
      state therein a material fact required to be stated therein or necessary to
      make
      the statements therein (in the case of a prospectus or preliminary prospectus,
      in light of the circumstances under which they were made) not misleading or
      (iii) any violation by the Company of the Securities Act in connection with
      a
      Registration Statement; provided,
      however,
      that
      the Company shall not be liable to any indemnified party in any such case to
      the
      extent that any such Loss arises out of or is based upon an untrue statement
      or
      alleged untrue statement or omission or alleged omission made in any such
      Registration Statement in reliance upon and in conformity with written
      information furnished to the Company by such holder expressly for use in the
      preparation thereof; and provided,
      further,
      that
      the Company will not be liable to any indemnified party in any case to the
      extent that any such Loss arises out of or is based upon any untrue statement
      or
      alleged untrue statement or omission or alleged omission made in any final,
      preliminary or summary prospectus if such untrue statement or alleged untrue
      statement or omission or alleged omission is corrected in an amendment or
      supplement to such prospectus which has been made available to the holders
      a
      reasonable time prior to any sale of the Registrable Securities and the relevant
      holder of Registrable Securities fails to deliver such prospectus as so amended
      or supplemented, if such delivery is required under applicable law or the
      applicable rules of any securities exchange, prior to or concurrently with
      the
      sales of the Registrable Securities to the Person asserting such loss, claim,
      damage, liability or expense. This indemnity shall be in addition to any
      liability the Company may otherwise have. Such indemnity shall remain in full
      force and effect regardless of any investigation made by or on behalf of any
      indemnified party.

     

    
      
        
        

      

      
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    (b)
      Indemnification
      by the Holders.
      Each
      selling holder of Registrable Securities agrees (severally and not jointly)
      to
      indemnify and hold harmless, to the full extent permitted by law, the Company,
      its directors and officers and each Person who controls the Company (within
      the
      meaning of the Securities Act) from and against any Losses resulting from any
      untrue statement of a material fact or any omission of a material fact required
      to be stated in the Registration Statement under which such Registrable
      Securities were registered under the Securities Act (including any final,
      preliminary or summary prospectus contained therein or any amendment thereof
      or
      supplement thereto or any documents incorporated by reference therein), or
      necessary to make the statements therein (in the case of a prospectus or
      preliminary prospectus, in light of the circumstances under which they were
      made) not misleading, to the extent, but only to the extent, that such untrue
      statement or omission had been contained in any information furnished in writing
      by such selling holder to the Company specifically for inclusion in such
      Registration Statement and was not corrected in a subsequent writing prior
      to or
      concurrently with the sale of the Registrable Securities to the Person asserting
      such loss, claim, damage, liability or expense. This indemnity shall be in
      addition to any liability such holder may otherwise have; provided
      that the
      obligations of the selling holder under this Section
      2.9(b)
      shall
      not apply to amounts paid in settlement of any such Losses if such settlement
      is
      effected without the consent of such holder (such consent not to be unreasonably
      withheld). Such indemnity shall remain in full force and effect regardless
      of
      any investigation made by or on behalf of the Company or any indemnified party.
      In no event shall the liability of any selling holder of Registrable Securities
      hereunder be greater in amount than the dollar amount of the proceeds received
      by such holder under the sale of the Registrable Securities giving rise to
      such
      indemnification obligation. 

     

    (c)
      Conduct
      of Indemnification Proceedings.
      Any
      Person entitled to indemnification hereunder will (i) give prompt written
      notice to the indemnifying party of any claim with respect to which it seeks
      indemnification (provided,
      however,
      that
      any delay or failure to so notify the indemnifying party shall relieve the
      indemnifying party of its obligations hereunder only to the extent, if at all,
      that it is actually and materially prejudiced by reason of such delay or
      failure) and (ii) permit such indemnifying party to assume the defense of
      such claim with counsel reasonably satisfactory to the indemnified party;
provided,
      however,
      that
      any Person entitled to indemnification hereunder shall have the right to select
      and employ separate counsel and to participate in the defense of such claim,
      but
      the fees and expenses of such counsel shall be at the expense of such Person
      unless (A) the indemnifying party has agreed in writing to pay such fees or
      expenses, (B) the indemnifying party shall have failed to assume the
      defense of such claim within a reasonable time after having received notice
      of
      such claim from the Person entitled to indemnification hereunder and to employ
      counsel reasonably satisfactory to such Person, (C) in the reasonable
      judgment of any such Person, based upon advice of its counsel, a conflict of
      interest exists between such Person and the indemnifying party with respect
      to
      such claims or (D) based on advice of counsel, the indemnified party has
      reasonably concluded that there may be legal defenses available to it or other
      indemnified parties that are different from or in addition to those available
      to
      the indemnifying party such that the indemnifying party’s assumption of defense
      of the indemnified party would be likely to adversely affect the defense of
      the
      indemnified party (in which case, if the Person notifies the indemnifying party
      in writing that such Person elects to employ separate counsel at the expense
      of
      the indemnifying party, the indemnifying party shall not have the right to
      assume the defense of such claim on behalf of such Person). If such defense
      is
      not assumed by the indemnifying party, the indemnifying party will not be
      subject to any liability for any settlement made without its consent, but such
      consent may not be unreasonably withheld; provided,
      however,
      that an
      indemnifying party shall not be required to consent to any settlement involving
      the imposition of equitable remedies or involving the imposition of any material
      obligations on such indemnifying party other than financial obligations for
      which such indemnified party will be indemnified hereunder. If the indemnifying
      party assumes the defense, the indemnifying party shall have the right to settle
      such action without the consent of the indemnified party; provided,
      however,
      that
      the indemnifying party shall be required to obtain such consent (which consent
      shall not be unreasonably withheld) if the settlement includes any admission
      of
      wrongdoing on the part of the indemnified party or any restriction on the
      indemnified party or its officers or directors. No indemnifying party shall
      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 each indemnified party of an unconditional release from all liability in
      respect to such claim or litigation. The indemnifying party or parties shall
      not, in connection with any proceeding or related proceedings, be liable for
      the
      reasonable fees, disbursements and other charges of more than one separate
      firm
      at any one time for all such indemnified party or parties unless (x) the
      employment of more than one counsel has been authorized in writing by the
      indemnifying party or parties, (y) a conflict or potential conflict exists
      or may exist (based on advice of counsel to an indemnified party) between such
      indemnified party and the other indemnified parties or (z) based on advice
      of counsel, an indemnified party has reasonably concluded that there may be
      legal defenses available to it that are different from or in addition to those
      available to the other indemnified parties, in each of which cases the
      indemnifying party shall be obligated to pay the reasonable fees and expenses
      of
      such additional counsel or counsels. 

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

    (d)
      Contribution.
      If for
      any reason the indemnification provided for in the paragraphs (a) and
      (b) of this Section 2.9
      is
      unavailable to an indemnified party or insufficient to hold it harmless as
      contemplated by paragraphs (a) and (b) of this Section 2.9,
      then
      the indemnifying party shall contribute to the amount paid or payable by the
      indemnified party as a result of such Loss in such proportion as is appropriate
      to reflect the relative fault of the indemnifying party on the one hand and
      the
      indemnified party on the other. The relative fault shall be determined by
      reference to, among other things, whether the untrue or alleged untrue statement
      of material fact or the omission or alleged omission to state a material fact
      relates to information supplied by the indemnifying party or the indemnified
      party and the parties’ relative intent, knowledge, access to information and
      opportunity to correct or prevent such untrue statement or omission.
      Notwithstanding anything in this Section 2.9(d)
      to the
      contrary, no indemnifying party (other than the Company) shall be required
      pursuant to this Section 2.9(d)
      to
      contribute any amount in excess of the amount by which the net proceeds received
      by such indemnifying party from the sale of Registrable Securities in the
      offering to which the Losses of the indemnified parties relate exceeds the
      amount of any damages which such indemnifying party has otherwise been required
      to pay by reason of such untrue statement or omission. The parties hereto agree
      that it would not be just and equitable if contribution pursuant to this
Section 2.9(d)
      were
      determined by pro
      rata
      allocation or by any other method of allocation that does not take account
      of
      the equitable considerations referred to in the immediately preceding paragraph.
      No Person guilty of fraudulent misrepresentation (within the meaning of
      Section 11(f) of the Securities Act) shall be entitled to contribution from
      any Person who was not guilty of such fraudulent misrepresentation. If
      indemnification is available under this Section 2.9,
      the
      indemnifying parties shall indemnify each indemnified party to the full extent
      provided in Sections
      2.9(a)
      and
2.9(b)
      hereof
      without regard to the relative fault of said indemnifying parties or indemnified
      party. 

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    2.10.
      Rule 144. The
      Company covenants that it shall use its best efforts to file any reports
      required to be filed by it under the Securities Act and the Exchange Act and
      shall take such further action as the holders of Registrable Securities may
      reasonably request, all to the extent required from time to time to enable
      such
      holders to sell Registrable Securities without registration under the Securities
      Act within the limitation of the exemptions provided by Rule 144 under the
      Securities Act, as such Rules may be amended from time to time, or any similar
      Rule or regulation hereafter adopted by the Commission. 

     

    SECTION 3.
      MISCELLANEOUS 

     

    3.1.
      Term.
      This
      Agreement shall terminate upon earlier of (i) the tenth anniversary of the
      date of this Agreement or (ii) the date as of which all of the Registrable
      Securities have been sold pursuant to a Registration Statement (but in no event
      prior to the applicable period referred to in Section 4(3) of the
      Securities Act and Rule 174 thereunder). The provisions of Section 2.9
      and
Section 2.10
      shall
      survive any termination. 

     

    3.2.
      Notices.
      All
      notices, other communications or documents provided for or permitted to be
      given
      hereunder, shall be made in writing and shall be given either personally by
      hand-delivery, by facsimile transmission, by mailing the same in a sealed
      envelope, registered first-class mail, postage prepaid, return receipt
      requested, or by air courier guaranteeing overnight delivery: 

    

    (a)
      if to
      the Company to: 

     

    NTR
      ACQUISITION CO. 

    100
      Mill
      Plain Road, Suite 320 

    Danbury,
      CT 06811 

    Attention:
      Chief Executive Officer 

    Fax:
      (203) 546-3523 

     

    with
      a
      copy to: 

     

    Cleary
      Gottlieb Steen & Hamilton LLP 

    One
      Liberty Plaza 

    New
      York,
      NY 10003 

    Attention:
      Raymond B. Check, Esq. 

    Fax:
      (212) 225-3999 

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    (b)
      if to
      Occidental, to:

     

    Occidental
      Petroleum Investment Co.

    10889
      Wilshire Boulevard

    Los
      Angeles, CA 90024

     

    Each
      holder, by written notice given to the Company in accordance with this
Section 3.2,
      may
      change the address to which notices, other communications or documents are
      to be
      sent to such holder. All notices, other communications or documents shall be
      deemed to have been duly given: (i) at the time delivered by hand, if
      personally delivered; (ii) when receipt is acknowledged in writing by
      addressee, if by facsimile transmission; (iii) five business days after
      having been deposited in the mail, postage prepaid, if mailed by first class
      mail; or (iv) on the first business day with respect to which a reputable
      air courier guarantees delivery; provided,
      however,
      that
      notices of a change of address shall be effective only upon receipt.

     

    3.3.
      Successors, Assigns and Transferees. 

     

    (a)
      The
      registration rights of any holder under this Agreement with respect to any
      Registrable Securities may be transferred and assigned, provided,
      however,
      that no
      such assignment shall be binding upon or obligate the Company to any such
      assignee unless and until the Company shall have received notice of such
      assignment as herein provided and a written agreement of the assignee to be
      bound by the provisions of this Agreement. Any transfer or assignment made
      other
      than as provided in the first sentence of this Section 3.3
      shall be
      null and void. 

     

    (b)
      This
      Agreement shall be binding upon and shall inure to the benefit of the parties
      hereto, and their respective successors and permitted assigns. 

     

    3.4.
      Governing
      Law; Consent to Jurisdiction.
      THIS
      AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE
      STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED WITHIN
      THAT
      STATE. To the fullest extent permitted by applicable law, each party hereto
      (i) agrees that any claim, action or proceeding by such party seeking any
      relief whatsoever arising out of, or in connection with, this Agreement or
      the
      transactions contemplated hereby shall be brought only in the United States
      District Court for the Central District of California and in any California
      State court located in Los Angeles County and not in any other State or Federal
      court in the United States of America or any court in any other country,
      (ii) agrees to submit to the exclusive jurisdiction of such courts located
      in the State of California for purposes of all legal proceedings arising out
      of,
      or in connection with, this Agreement or the transactions contemplated hereby
      and (iii) irrevocably waives any objection which it may now or hereafter
      have to the laying of the venue of any such proceeding brought in such a court
      and any claim that any such proceeding brought in such a court has been brought
      in an inconvenient forum. 

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    3.5.
      Headings.
      The
      section and paragraph headings contained in this Agreement are for reference
      purposes only and shall not in any way affect the meaning or interpretation
      of
      this Agreement.

     

    3.6.
      Severability.
      Whenever
      possible, each provision or portion of any provision of this Agreement will
      be
      interpreted in such manner as to be effective and valid under applicable law
      but
      if any provision or portion of any provision of this Agreement is held to be
      invalid, illegal or unenforceable in any respect under any applicable law in
      any
      jurisdiction, such invalidity, illegality or unenforceability will not affect
      any other provision or portion of any provision in such jurisdiction, and this
      agreement will be reformed, construed and enforced in such jurisdiction as
      if
      such invalid, illegal or unenforceable provision or portion of any provision
      had
      never been contained therein. 

     

    3.7.
      Amendment; Waiver.
      

     

    (a)
      This
      Agreement may not be amended or modified and waivers and consents to departures
      from the provisions hereof may not be given, except by an instrument or
      instruments in writing making specific reference to this Agreement and signed
      by
      the Company and the holders of a majority of Registrable Securities of each
      class then outstanding. Each holder of any Registrable Securities at the time
      or
      thereafter outstanding shall be bound by any amendment, modification, waiver
      or
      consent authorized by this Section 3.7(a),
      whether
      or not such Registrable Securities shall have been marked accordingly.

     

    (b)
      The
      waiver by any party hereto of a breach of any provision of this Agreement shall
      not operate or be construed as a further or continuing waiver of such breach
      or
      as a waiver of any other or subsequent breach. Except as otherwise expressly
      provided herein, no failure on the part of any party to exercise, and no delay
      in exercising, any right, power or remedy hereunder, or otherwise available
      in
      respect hereof at law or in equity, shall operate as a waiver thereof, nor
      shall
      any single or partial exercise of such right, power or remedy by such party
      preclude any other or further exercise thereof or the exercise of any other
      right, power or remedy. 

     

    3.8.
      Counterparts.
      This
      Agreement may be executed in any number of separate counterparts and by the
      parties hereto in separate counterparts each of which when so executed shall
      be
      deemed to be an original and all of which together shall constitute one and
      the
      same agreement. 

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    

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

     

    
      	
              NTR
                ACQUISITION CO.

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

     

    
      	
              Address:

            	
              100
                Mill Plain Road

            
	 	
              Suite
                320

            
	 	
              Danbury,
                CT 06811

            

    

     

     

    
      	
              OCCIDENTAL
                PETROLEUM INVESTMENT CO.

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

     

    
      	
              Address:

            	
              10889
                Wilshire Blvd.

            
	 	
              Los
                Angeles, CA 90024

            

    

    

    
      
        
        

      

      
        22MANUFACTURING
      AND SUPPLY AGREEMENT

     

    THIS
      MANUFACTURING AND SUPPLY AGREEMENT
      (the
“Agreement”) is made and entered into this 29th day of October, 2007 (the
“Effective Date”), by and between AURIGA
      LABORATORIES, INC.
      (“Auriga”) and MIKART,
      INC.
      (“Mikart”). Mikart is a Georgia corporation with its principal place of business
      at 1750 Chattahoochee Avenue, Atlanta, Georgia 30318, and Auriga is a
      Delaware corporation with its principal place of business at 10635 Santa Monica
      Blvd, Suite 120, Los Angeles, California 90025.

    

    BACKGROUND:

    

    Subject
      to the terms and conditions contained in this Agreement, Auriga desires to
      engage Mikart to manufacture the “Product” (as hereinafter defined) for
      commercial distribution by Auriga, and Mikart desires to accept such
      appointment.

    

    NOW,
      THEREFORE,
      FOR
      AND IN CONSIDERATION
      of the
      premise, Ten Dollars ($10.00) in hand paid, the mutual promises, covenants
      and
      agreements contained herein, and other good and valuable consideration, the
      receipt and sufficiency of which are hereby acknowledged, the parties hereto
      hereby agree as follows:

    

    ARTICLE
      1

    DEFINITIONS

    

    The
      following words, terms and phrases, when used herein, shall have the following
      respective meanings:

    

    1.1     “Batch”
      shall mean the quantity of seven hundred eighty thousand (780,000) tablets
      of
      the Product.

    

    1.2     “Contract
      Year” shall mean a twelve (12) consecutive month period after the Qualification
      Date and during the Term of this Agreement. The first Contract Year shall
      commence as of the Qualification Date, and subsequent Contract Years shall
      commence on each anniversary of the Qualification Date.

    

    1.3     “FDA”
      shall mean the United States Food and Drug Administration, or any successor
      agency thereof.

    

    1.4     “Health
      Registrations” shall mean the ANDA issued by the FDA with respect to the Product
      and any other governmental or regulatory consents, registrations, approvals
      or
      permits necessary to sell or manufacture the Product in the
      Territory.

    

    1.5     “Product”
      shall mean the Acetaminophen 650mg/Codeine 60mg owned by Mikart.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    1.6     “Qualification
      Date” shall mean the date on which Mikart satisfactorily completes its
      validation and stability testing pursuant to Article 2 of this Agreement such
      that it becomes authorized to begin manufacturing the Product under the Health
      Registrations in accordance with the terms of this Agreement.

    

    1.7     “Specifications”
      shall mean the specifications for the manufacturing, packaging and labeling
      of
      the Product described on Exhibit
      A
      attached hereto and incorporated herein by reference.

    

    1.8     “Substantial
      Nonperformance” exists if either of the following occurs: (a) Mikart fails to
      ship to Auriga at least 50% of the Product ordered in any purchase order by
      the
      delivery date for that order and does not cure such failure within thirty (30)
      days, or (b) during any twelve (12) month period, Mikart fails on three (3)
      or
      more occasions to ship to Auriga at least 75% of the Product ordered in any
      purchase order by the delivery date for that order and does not cure such
      failure within thirty (30) days.

    

    1.9     “Territory”
      shall mean the United States of America and its territories and such other
      locations as may be designated by the parties hereto pursuant to Section
      2.3.

    

    ARTICLE
      2

    VALIDATION,
      HEALTH REGISTRATIONS & ADDITIONAL LOCATIONS

    

    2.1     Validation.
      Auriga
      and Mikart acknowledge that Mikart must validate at least three (3) Batches
      of
      the Product prior to selling any of the Product to Auriga. After Mikart
      successfully completes the Validation, Auriga shall be obligated to purchase
      the
      Batches so validated in accordance with the terms of this Agreement. Such
      Batches shall be part of, and shall be applied to, Auriga’s minimum purchase
      requirements within the first Contract Year. Mikart shall maintain stability
      testing and validation data at its Atlanta, Georgia facilities or at such other
      location as agreed to by Auriga and Mikart in accordance with FDA regulations.
      All of Mikart’s costs incurred in connection with the validation, the stability
      testing and the storage of data related thereto shall be periodically billed
      to
      and paid by Auriga.

    

    2.2     Health
      Registrations.
      Mikart shall maintain the Health Registrations in full force and effect at
      all
      times during the Term of this Agreement. Auriga hereby acknowledges and agrees
      that the Product and the Health Registrations are owned by, in the name of
      and
      for the benefit of Mikart, and that Auriga has no rights in or to the Product
      or
      any of the Health Registrations, except to the extent it is expressly authorized
      by Mikart to market and sell the Product pursuant to this
      Agreement.

     

    2.3     Additional
      Locations.
      In the event Auriga desires to market, distribute or sell the Product in any
      location not set forth in Section 1.8 (or previously designated pursuant to
      this
      Section 2.3), then Mikart shall, at Auriga’s request, cooperate in good faith
      with Auriga to obtain any Health Registrations necessary or appropriate
      therefore (and Auriga shall pay all of Mikart’s reasonable out-of-pocket
      expenses therefore); provided, however, Auriga shall not market, distribute
      or
      sell any Product in such locations unless and until such Health Registrations
      are obtained.

     

    
      
        
        

      

      
        -
          2
          -

        
          

        

      

      
        
        

      

       

    

    ARTICLE
      3

    MANUFACTURE

    

    3.1     Exclusivity.
      Subject to the terms and conditions contained herein, Mikart shall not
      manufacture, package or sell the Product for
      or to any person or entity other than Auriga during
      the Term of this Agreement. Auriga
      shall purchase exclusively from Mikart all of Auriga’s requirements for the
      Product during the Term of this Agreement. Auriga
      hereby agrees that, in the event it desires to sell, market or distribute any
      other product which contains the active ingredient Acetaminophen during the
      Term
      of this Agreement, it shall offer the right of first refusal to Mikart to be
      the
      sole manufacturer thereof (on commercial terms, other than price, substantially
      similar to those contained herein). Subject to the above restrictions, nothing
      contained herein shall be deemed in any way to preclude Mikart from
      manufacturing, packaging or selling any products on behalf of any person or
      entity where the formulation for such products differs from the formulation
      for
      the Product. 

    

    3.2     Limited
      Warranties.
      Mikart hereby represents and warrants to Auriga that the Product when
      manufactured and sold to Auriga hereunder shall conform to the Specifications.
      In addition, Mikart represents and warrants to Auriga that Mikart, in its
      manufacture of the Product, shall comply with all applicable federal, state
      and
      local laws, rules and regulations in the Territory, including without limitation
      the current Good Manufacturing Practices, as published and amended from time
      to
      time by the FDA, and Mikart’s manufacturing and storage facilities shall comply
      with all applicable federal, state and local laws, rules and regulations in
      the
      Territory. EXCEPT
      AS SET FORTH IN THIS SECTION 3.2 AND SECTION 9.1, MIKART MAKES NO OTHER
      REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, AND MIKART HEREBY
      SPECIFICALLY DISCLAIMS ALL SUCH OTHER REPRESENTATIONS AND WARRANTIES, INCLUDING,
      WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR
      A
      PARTICULAR PURPOSE.
      With respect to each Batch of Product manufactured hereunder, this Section
      3.2
      shall remain effective until the expiration date noted on such
      Product.

    
      
        
        

      

      
        -
          3
          -

        
          

        

      

      
        
        

      

    

    

    3.3     Quality
      Control.

    

    (a)     Mikart
      shall perform quality control testing on the Product in accordance with normal
      industry standards to determine whether such Product conforms to the
      Specifications. Contemporaneously with each shipment of Product hereunder,
      Mikart shall provide Auriga with a certificate of analysis with respect to
      such
      Product. In addition, Mikart shall perform, at Auriga’s expense, any and all
      other testing relating to the Product which is reasonably requested by Auriga
      to
      confirm that such Product meets the Specifications and promptly provide Auriga
      with the results thereof; provided, however, that Auriga shall not be
      responsible for the expenses associated with any such testing which shows that
      such Product does not meet the Specifications.

    

    (b)     In
      addition, Mikart shall be responsible for conducting an ongoing stability
      program for the Product as required by federal law. Mikart shall provide the
      results of such testing to Auriga in a timely manner as this data is generated
      or received by Mikart. Mikart’s cost therefore shall be billed to and paid by
      Auriga on a quarterly basis.

    

    (c)     Mikart
      shall, upon the reasonable request of Auriga, assay any Product returned to
      Auriga by a third party purchaser. Auriga shall reimburse Mikart for the costs
      of any such assay unless the results thereof prove the cause of return is as
      a
      result of Mikart’s negligence or willful misconduct or the failure of such
      Product to comply with the limited warranties contained in Section 3.2
      hereof.

    

    (d)     In
      the event that any Batch is subject to a recall, Auriga, at its expense, shall
      conduct the recall, except that Mikart shall reimburse Auriga for the costs
      of
      such recall (including reimbursing Auriga for the Product at the invoice prices
      paid by Auriga therefore) in the Territory to the extent such recall results
      from the failure of the Product to comply with the limited warranties contained
      in Section 3.2 hereof.

    

    (e)     Each
      party hereto shall promptly notify the other of any recall of Product which
      has
      been directed by it or by any governmental or regulatory entity or agency for
      any reason whatsoever. Such notice shall identify the reason for the recall
      and
      all relevant details thereof.

    

    (f)     Each
      party hereto shall promptly deliver to the other a copy of all notices received
      by it from the FDA during the Term of this Agreement relating to the
      manufacture, packaging, storage, marketing, sale or distribution of the Product.
      

     

    (g)     Upon
      the reasonable advance request of Auriga, Mikart shall permit a representative
      of Auriga to inspect its facilities where the Product is manufactured, packaged
      and stored, provided such representative first executes a copy of Mikart’s
      standard visitor confidentiality agreement.

    
      
        
        

      

      
        -
          4
          -

        
          

        

      

      
        
        

      

    

     

    3.4     Packaging
      and Labeling Materials.
      Mikart shall order from time to time, at Auriga’s request and expense, labels,
      package inserts and other packaging materials (the “Labeling Materials”) in
      sufficient quantities to permit the packaging of the Product ordered by Auriga
      from time to time hereunder. All required or appropriate directions, warnings,
      instructions, information and other written content (the “Labeling Content”)
      contained in or on or omitted from any Labeling Materials shall be the sole
      responsibility and liability of Auriga.

    

    3.5     Exclusive
      License to Market and Sell the Product.
      Mikart hereby grants to Auriga an exclusive, royalty free license to market
      and
      sell the Product in the Territory during the Term hereof. In consideration
      of
      such license, Auriga hereby agrees to deliver to Mikart the aggregate sum of
      One
      Hundred Thousand Dollars ($100,000.00) (the “License Fee”). The License Fee
      shall be paid by Auriga to Mikart in accordance with the following:

    

    
      	
            	(i)	
              Fifty
                Thousand Dollars upon execution of this Agreement;
                and

            

    

    

    
      	
            	(ii)	
              Fifty
                Thousand Dollars within sixty (60) days following Auriga’s receipt of its
                first order of the Product hereunder, such amount to be included
                on the
                invoice for such Product, as described in Section 5.3 hereof.
                

            

    

    

    ARTICLE
      4

    ORDERS
      AND SALES

    

    4.1    Forecasts.
      Commencing on the Qualification Date, and thereafter at least thirty (30) days
      prior to the commencement of each calendar quarter, Auriga shall provide Mikart
      with a non-binding, rolling twelve (12) month forecast of its requirements
      for
      the Product.

    

    4.2    Purchase
      Orders.
      Auriga shall place its orders for the Product no later than ninety (90) days
      prior to the requested delivery date using separately numbered, written purchase
      orders. Each purchase order must be for one or more full Batches (provided
      Auriga shall have the right to specify the size packaging requirements of each
      order as agreed to by the parties hereto). Purchase orders shall be transmitted
      to Mikart via U.S. mail, private courier, e-mail, or facsimile transmission.
      Each purchase order shall include complete and accurate information with respect
      to the requested Product, quantity, sizes, shipment dates, shipment method
      and
      delivery destination. Subject to this Section 4.2, Mikart shall ship Product
      within ten (10) days after the requested shipment date in the corresponding
      purchase order. Mikart shall notify Auriga of any purchase orders containing
      shipment dates which need to be rescheduled, and Mikart and Auriga shall work
      together in good faith to schedule a new shipment date for such order (which
      shall not be later than thirty (30) days after the date requested by Auriga).
      In
      addition, Auriga may postpone a requested shipment date by providing Mikart
      at
      least sixty (60) days prior written notice thereof.

    

    4.3     Minimum
      Purchase.
      During
      each Contract Year during the Term hereof, Auriga shall order and purchase
      from
      Mikart minimum quantities of the Product as follows:

    
      
        
        

      

      
        -
          5
          -

        
          

        

      

      
        
        

      

    

    

    
      	
              Contract
                Year

            	 	
              Minimum
                Quantity

            
	
              1

            	 	
              3
                Batches

            
	
              2

            	 	
              4
                Batches

            
	
              3

            	 	
              5
                Batches

            
	
              4

            	 	
              5
                Batches

            
	
              5

            	 	
              5
                Batches

            

    

    

    For
      subsequent Contract Years, if any, Auriga’s minimum purchase obligation shall be
      agreed to in writing by the parties; provided, however, that in the absence
      of
      such agreement between the parties, Auriga’s minimum purchase obligation for
      such subsequent Contract Years shall remain the amount set forth above for
      the
      fifth (5th)
      Contract Year.

    

    4.4     Failure
      to Meet Minimum Purchase Requirements.
      Notwithstanding anything in this Agreement to the contrary, in the event Auriga
      fails to meet its minimum purchase obligation set forth in Section 4.3 hereof
      in
      any Contract Year for any reason other than a breach of this Agreement by Mikart
      or a force majeure event, Auriga shall pay to Mikart an amount equal to the
      quantity of Product by which Auriga failed to meet its minimum purchase
      obligation for such Contract Year multiplied by the then current price for
      such
      Product.

    

    ARTICLE
      5

    PRICES,
      TERMS OF PAYMENT

    

    5.1     Price.
      The prices to be paid for the Product by Auriga to Mikart for shipments made
      during the first year after the Effective Date shall be as follows:

    

    
      	
              Price

            	 	
              Size

            
	
              $19.90

            	 	
              Bottle
                of 100’s

            
	
              $96.00

            	 	
              Bottle
                of 500’s

            

    

    

    5.2    Price
      Adjustments.
      Mikart shall have the right to increase the prices charged for the Product
      pursuant to Section 5.1 hereof one (1) time during each twelve (12) month period
      after the Effective Date to reflect any increase in the cost of goods or
      services necessary to manufacture the Product (“Total Product Costs”). In the
      event that Mikart increases the prices charged for the Product pursuant to
      the
      preceding sentence and after the effective date of such increase Mikart’s cost
      of raw materials or components for manufacturing or packaging the Product
      further increases by more than five percent (5%) during such year, Mikart shall
      have the right, by providing written notice to Auriga, to further increase
      the
      prices in such year by a percentage amount equal to the percentage amount such
      cost increase exceeds five percent (5%); provided, that Mikart shall provide
      Auriga with documented evidence of any such further cost increases and shall
      use
      its reasonable efforts to prevent any such further cost increases from
      occurring. Auriga shall have the right to renegotiate price for the Product
      upon
      market entry or launch of a generic equivalent to the Product.

    
      
        
        

      

      
        -
          6
          -

        
          

        

      

      
        
        

      

    

    

    5.3     Payment
      Terms.
      Upon delivery of each purchase order by Auriga to Mikart hereunder, Auriga
      shall
      also deliver to Mikart a payment in the amount of fifty percent (50%) of the
      price of the Product ordered pursuant to such purchase order. When the Product
      set forth in the purchase order is ready for shipment, Mikart shall notify
      Auriga of the same and Auriga shall promptly deliver to Mikart a payment in
      the
      amount of the remaining fifty percent (50%) of the price of the Product set
      forth in the purchase order. Notwithstanding anything to the contrary set forth
      herein, Mikart shall not be obligated to ship any Product to Auriga for which
      Mikart has not received full payment pursuant to this Section 5.3.

    

    ARTICLE
      6

    SHIPPING
      DEFECTS, RETURNS

    

    6.1    Shipping.
      Mikart shall ship all Product ordered hereunder to Auriga f.o.b. Mikart’s
      manufacturing facility, at which point the risk of loss for such Product shall
      pass to Auriga. Mikart shall ship the Product to the location designated by
      Auriga on its purchase order. The parties agree that the method and route of
      shipment are at Mikart’s discretion unless Auriga furnishes Mikart explicit
      instructions with the purchase order. Auriga agrees to pay all costs of shipping
      and any costs of freight insurance obtained by Mikart at the request of Auriga.
      Mikart agrees to provide reasonable support to assist Auriga in pursuing any
      claims it may have against carriers.

    

    6.2    Notification
      of Defects.
      Auriga shall notify Mikart in writing as soon as reasonably practicable after
      delivery to Auriga of any non-conforming Product containing obvious defects
      in
      such Product discoverable without affecting the integrity of such Product’s
      packaging (but in any event within twenty (20) days after delivery) and within
      thirty (30) days of the earlier of its discovery or its notification by a third
      party of any latent defects. Auriga shall be responsible for its cost to inspect
      the Product.

    

    6.3     Returns.
      Mikart shall accept for return and replacement or credit (at invoiced cost)
      any
      Product sold to Auriga under this Agreement which does not conform with the
      limited warranties set forth in Section 3.2 and for which proper notice has
      been
      given in accordance with Section 6.2, provided Auriga obtains prior shipping
      authorization from Mikart. All returns of Product with obvious defects must
      be
      in the original manufactured condition. Mikart shall pay reasonable return
      freight and shipping charges.

    

    ARTICLE
      7

    TERM
      AND TERMINATION

    

    7.1    Term.
      Unless earlier terminated in accordance with the provisions hereof, the Term
      of
      this Agreement shall commence on the Effective Date and shall thereafter
      continue in effect until the fifth (5th) anniversary of the Effective Date
      (the
“Initial Term”). At the end of the Initial Term and each subsequent “Renewal
      Term” (as hereinafter defined), the Term of this Agreement shall be
      automatically renewed and extended for a one
      (1) year period (a “Renewal Term”), unless either party delivers a written
      termination notice to the other party at least six
      (6) months prior to the end of the Initial Term or the then current Renewal
      Term, as the case may be. For purposes hereof the Initial Term and any Renewal
      Terms are sometimes referred to collectively herein as the “Term.” 

     

    
      
        
        

      

      
        -
          7
          -

        
          

        

      

      
        
        

      

    

    
 

    7.2    Termination.
       Either
      party may terminate this Agreement on written notice to the other party,
      effective immediately if: 

    

    (a)     the
      other party commits a material breach of any of its obligations hereunder which
      is not cured within ninety (90) days of written notice from the other party
      specifying the breach;

    

    (b)     the
      other party is dissolved or liquidated, files or has filed against it a petition
      under any bankruptcy or insolvency law, makes an assignment to the benefit
      of
      its creditors, has a receiver appointed for all or substantially all of its
      property, or has a petition under any bankruptcy or insolvency law filed against
      it which is not dismissed within sixty (60) days; or

    

    (c)     the
      Qualification Date has not occurred within one (1) year after the Effective
      Date.

    

    Such
      right of termination shall be in addition to any other remedy a non-defaulting
      party may have at law or in equity due to the other party’s breach of is
      obligations hereunder. 

    

    7.3    Post-Termination
      Restrictions.
      Upon any expiration or termination of this Agreement (other than by Auriga
      pursuant to Section 7.2), Auriga shall grant Mikart at least sixty (60) days
      to
      produce all open orders in house in accordance with the conditions of the open
      orders and this Agreement. In the event Auriga terminates this Agreement
      pursuant to Section 7.2, and upon the request of Auriga, Mikart shall provide
      Auriga with reasonable assistance in locating or establishing a new manufacturer
      for the Product.

    

    7.4    Changed
      Circumstances.
      In the event that the market for the Product materially changes or either party,
      in good faith, believes that a material change in such party’s circumstances
      beyond their control has occurred which materially affects its ability to
      perform its obligations pursuant to this Agreement, the parties hereto shall,
      in
      good faith, negotiate towards mutually acceptable revisions to this Agreement
      to
      address the impact of such material changes; provided, however, the terms of
      this Agreement shall continue in full force and effect unless and until the
      parties hereto agree otherwise. For the avoidance of doubt, the parties hereto
      acknowledge and agree that if a generic version of the Product is introduced
      into the market, then the parties shall be obligated to negotiate appropriate,
      mutually acceptable revisions to this Agreement pursuant to this Section 7.4.
      

    
      
        
        

      

      
        -
          8
          -

        
          

        

      

      
        
        

      

    

    

    

    7.5    Force
      Majeure.
      The failure of either of the parties hereto to perform any obligation under
      this
      Agreement solely by reason of any cause beyond its control (and due to no fault
      of its own), including, without limitation, acts of God, acts of government,
      riots, wars, strikes and accidents in transportation, shall not be deemed to
      be
      a breach of this Agreement; provided, however, that the party so prevented
      from
      complying herewith shall continue to take all actions within its power,
      including payment of outstanding invoices, to comply as fully as possible
      herewith. 

    

    7.6    Post-Termination
      Obligations.
      Notwithstanding anything else contained herein to the contrary, following any
      termination or expiration of this Agreement:

    

        (a)     Auriga
      shall purchase from Mikart (at Mikart’s cost therefore) all of Mikart’s
      remaining inventory of the Product; and

    

    (b)     The
      license granted by Mikart to Auriga pursuant to Section 3.5 hereof shall
      automatically, and without any further action by the parties hereto, terminate
      and be of no further force or effect.

    

    ARTICLE
      8

    INDEMNIFICATION
      AND INSURANCE

    

    8.1    Indemnification.
      Mikart hereby indemnifies and agrees to defend and hold Auriga harmless from
      and
      against losses, claims, damages, liabilities, costs and expenses (including,
      without limitation, attorneys’ fees and court costs) incurred by Auriga as a
      result of any breach of this Agreement by Mikart or the failure of the Product
      to comply with the limited warranties set forth in Section 3.2 hereof or
      Mikart’s gross negligence or willful misconduct. Auriga hereby indemnifies and
      agrees to defend and hold Mikart harmless from and against losses, claims,
      damages, liabilities, costs and expenses (including, without limitation,
      attorneys’ fees and court costs) incurred by Mikart as a result of any breach of
      this Agreement by Auriga, the storage, marketing, sale or distribution of the
      Product by Auriga, any Labeling Content contained in or on or omitted from
      any
      Labeling Materials, any failure by Auriga to provide sufficient instructions
      or
      warnings regarding the proper use of or the risks or dangers associated with
      the
      use of the Product to any user thereof or Auriga’s gross negligence or willful
      misconduct.

    

    8.2    Insurance.
      Each party hereto shall maintain with a financially sound and reputable insurer
      throughout the Term of this Agreement comprehensive general liability insurance,
      including, without limitation, product liability insurance with liability limits
      of at least $3,000,000 per occurrence and in the aggregate. Each party hereto
      shall also name the other party as a vendor under the broad form vendor
      endorsement on its policy and provide the other party with such evidence thereof
      as is reasonably requested by the other party from time to time.

    

    ARTICLE
      9

    WARRANTIES
      AND REPRESENTATIONS OF THE PARTIES

    

    9.1    Additional
      Representations and Warranties of Mikart.
      Mikart hereby additionally represents and warrants to Auriga the
      following:

    

    (a)     Mikart
      is a corporation duly organized and existing in good standing under the laws
      of
      the State of Georgia;

    
      
        
        

      

      
        -
          9
          -

        
          

        

      

      
        
        

      

    

    

    

    (b)     Mikart
      is neither a party to nor otherwise bound by any agreement or instrument which
      prohibits or prevents it from performing its obligations under this Agreement;
      and

    

    (c)     Mikart’s
      manufacturing, packaging and storage facilities comply in all material respects
      with all applicable federal, state and local laws, rules and regulations in
      the
      Territory. 

    

    9.2    Representations
      and Warranties of Auriga.
      Auriga hereby additionally represents and warrants to Mikart the
      following:

    

    (a)     Auriga
      is a corporation duly organized and existing under the laws of the State of
      Delaware;

    

    (b)     There
      are no material adverse claims pending or, to the best of Auriga’s knowledge,
      threatened against Auriga by any entity with respect to any of its products
      or
      business; 

    

    (c)     Auriga
      is neither a party to nor otherwise bound by any agreement or instrument which
      prohibits or prevents it from performing its obligations under this Agreement;
      and

    

    (d)     All
      Packaging Content included in or on the Labeling Materials shall at all times
      be
      complete and accurate and comply with all applicable laws, rules and regulations
      in the Territory.
      To Auriga’s knowledge, Auriga represents and warrants to Mikart that any Product
      logo or design selected by Auriga will not violate any patents or other
      intellectual property rights of any third party. 

    

    ARTICLE
      10

    CONFIDENTIALITY
      AND NONSOLICITATION OF PERSONNEL

    

    10.1  Confidentiality.
      Each party hereto acknowledges that it has been and shall be exposed to certain
      “Confidential Information” and “Trade Secrets” (both as hereinafter defined) of
      the other party in connection with the transactions contemplated by this
      Agreement and that its unauthorized use or disclosure of such information or
      data could cause immediate and irreparable harm to such other party.
      Accordingly, except to the extent that it is necessary to use such information
      or data to perform its obligations under this Agreement, neither party shall,
      without the express prior written consent of the other party, redistribute,
      market, publish, disclose or divulge to any person or entity, or use or modify
      for use, directly or indirectly, in any way for any person or entity: (a) any
      of
      the other party’s Confidential Information during the Term of this Agreement and
      for a period of three (3) years after any expiration or termination of this
      Agreement; and (b) any of the other party’s Trade Secrets at any time during
      which such information constitutes a trade secret under applicable law. For
      purposes hereof, “Confidential Information” shall mean all competitively
      sensitive, non-public information (other than “Trade Secrets”) of or about a
      party which is not generally known by or available to such party’s competitors,
      and “Trade Secrets” shall mean “Trade Secrets” as defined under applicable law.
      This Section 10.1 supersedes and replaces any prior confidentiality agreements
      between the parties, all of which are hereby termination, null and void and
      of
      no further force or effect.

    

    
      
        
        

      

      
        -
          10
          -

        
          

        

      

      
        
        

      

    

    

    

    10.2  Nonsolicitation
      of Personnel.
      Neither party hereto shall, without the prior written consent to the other
      party, either directly or indirectly, alone or in conjunction with any other
      person or entity, solicit or attempt to solicit any “key or material” employee,
      consultant, contractor or personnel of such other party in the State of Georgia
      to terminate, alter or lessen his or her affiliation with such other party
      at
      any time during the Term of this Agreement and for a period of one (1) year
      thereafter.

    

    ARTICLE
      11

    ARBITRATION
      OF DISPUTES

    

    All
      disputes arising out of or in connection with the interpretation, application
      or
      enforcement of this Agreement shall be settled by final and binding arbitration.
      Such arbitration shall be conducted in a mutually acceptable location of
      approximately equal geographic distance from the addresses of the parties first
      above written, pursuant to the commercial arbitration rules of the American
      Arbitration Association in effect at the time the arbitration is commenced.
      The
      decision of the arbitrators, which may include interest, shall be final and
      binding on the parties hereto and may be entered and enforced in any court
      of
      competent jurisdiction by any party. The arbitration shall be pursued and
      brought to conclusion as rapidly as possible. The prevailing party in the
      arbitration proceeding shall be awarded reasonable attorneys' fees, expert
      witness costs and expenses, and all other costs and expenses incurred in
      connection with such proceeding, unless the arbitrators shall for good cause
      determine otherwise.

    

    ARTICLE
      12

    NOTICES

    

    12.1  Delivery.
      All notices, consents, requests and other communications hereunder shall be
      in
      writing and shall be sent by hand delivery, by certified or registered mail
      (return-receipt requested), or by a recognized national overnight courier
      service as set forth below:

    

    
      	
              If
                to Mikart:

            	
              Mikart,
                Inc.

              1750
                Chattahoochee Avenue

              Atlanta,
                Georgia 30318

              Attention:
                Miguel I. Arteche

            
	
              If
                to Auriga:

            	
              Auriga
                Laboratories, Inc.

              10635
                Santa Monica Boulevard

              Suite
                120_

              Los
                Angeles, CA

              Attention:_Philip
                S. Pesin

            

    

    

    
      
        
        

      

      
        -
          11
          -

        
          

        

      

      
        
        

      

    

    

    12.2  Effective
      Time.
      Notices delivered pursuant hereto shall be deemed given: (a) at the time
      delivered, if personally delivered; (b) at the time received, if mailed; and
      (c)
      one (1) business day after timely delivery to the courier, if by overnight
      courier service.

    

    12.3  Changes.
      Either party hereto may change the address to which notice is to be sent by
      written notice to the other party in accordance with the provisions of this
      Article 12.

    

    ARTICLE
      13

    MISCELLANEOUS

    

    13.1  Severability.
      If any provision of this Agreement is held to be invalid, illegal or
      unenforceable, the validity, legality and enforceability of the remaining
      provisions shall not in any way be affected or impaired, and the parties shall
      use their best efforts to substitute a valid, legal and enforceable provision,
      which, insofar as practical, implements the purpose of this
      Agreement.

    

    13.2  Counterparts.
      This Agreement may be executed in one or more counterparts, each of which shall
      be deemed an original, but all of which together shall be deemed one and the
      same instrument.

    

    13.3  Governing
      Law.
      This Agreement shall be governed by, and any matter or dispute arising out
      of
      this Agreement shall be determined by, the laws of the State
      of Georgia.

    

    13.4  Headings;
      Gender.
      “Article,” “Section” and other headings contained in this Agreement are for
      reference purposes only and shall not affect in any way the meaning or
      interpretation of this Agreement. All personal pronouns used in this Agreement
      shall include the other genders, whether used in the masculine, feminine or
      neuter gender, and the singular shall include the plural and vice versa,
      whenever and as often as may be appropriate.

    

    13.5  Entire
      Agreement.
      This Agreement represents the entire agreement of the parties with respect
      to
      its subject matter. Any and all prior discussions or agreements with respect
      hereto are merged into and superseded by the terms of this Agreement. This
      Agreement may be modified or amended only in writing signed by both parties
      which expressly refers to this Agreement and states an intention to modify
      or
      amend it. No such amendment or modification shall be effected by use of any
      purchase order, acknowledgment, invoice or other form of either party and in
      the
      event of conflict between the terms of this Agreement and any such form, the
      terms of this Agreement shall control.

    

    13.6  Notices.
      Any notice or payment required or permitted hereunder shall be in writing and
      sent by certified mail, overnight express, or personally delivered, addressed
      to
      the party to receive the notice as set out below.

    
      
        
        

      

      
        -
          12
          -

        
          

        

      

      
        
        

      

    

    

    13.7  No
      Assignment.
      Neither party hereto may assign this Agreement, in whole or in part, without
      the
      prior written consent of the other party (which consent shall not be
      unreasonably withheld or delayed), and any attempted assignment not in
      accordance herewith shall be null and void and of no force or
      effect.

    

    13.8  Binding
      Effect.
      This Agreement shall be binding upon and shall inure to the benefit of the
      parties hereto and their respective successors, heirs, representatives and
      permitted assigns.

    

    13.9
      Interpretation.
      This Agreement was fully negotiated by both parties hereto and shall not be
      construed more strongly against either party hereto regardless of which party
      is
      responsible for its preparation.

    

    13.10  No
      Consequential Damages.
      Neither party to this Agreement shall have any liability to the other party
      for
      any consequential or indirect damages arising out of any breach of this
      Agreement, including, without limitation, loss of profit, loss of use or
      business stoppage.

    

    13.11
      Further
      Assurances.
      Upon the reasonable request of the other party, each party hereto agrees to
      take
      any and all actions necessary or appropriate to give effect to the terms set
      forth in this Agreement.

    
      
        
        

      

      
        -
          13
          -

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF,
      the parties hereto have caused their respective duly authorized representatives
      to execute this Agreement as of the day and year first above
      written.

     

    
      	 	 	 
	 	“Mikart”
	 	 
	 	MIKART, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
               

              Name: 

            	
              
                

              

              Miguel I. Arteche

            
	 	Title: 	Chairman and
              CEO

    

    
       

      
        	 	 	 
	 	“Auriga”
	 	 
	 	AURIGA LABORATORIES, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
                 

                Name: 

              	
                
                  

                
Philip S. Pesin
	 	Title: 	Chairman and
                CEO

      

       

    

    
      
        
        

      

      
        -
          14
          -

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    SPECIFICATIONS

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