Document:

Exhibit 10.5

    
       

      Exhibit
        10.5

      POST-CLOSING AGREEMENT

      

      POST-CLOSING
        AGREEMENT (“Agreement”)
        dated
        this 7th
        day of
        August, 2007, with respect to the Loan and Security Agreement, dated this
        7th
        day of August, 2007 (“Loan
        Agreement”)
        by and
        between EMAGIN
        CORPORATION, a
        Delaware corporation, with its principal place of business located at 10500
        N.E.
        8th
        Street,
        Suite 1400, Bellevue, Washington 98004 ("Borrower"),
        and
MORIAH
        CAPITAL, L.P., a
        Delaware limited partnership with offices at 685 Fifth Avenue, New York,
        New
        York 10022 ("Lender").
        Capitalized terms used but not defined herein have the meanings given to
        them in
        the Loan Agreement.

      

      R
        E C
        I T A L S:

      

      WHEREAS,
        the parties have entered into the Loan Agreement on the date hereof,
        and

      

      WHEREAS,
        to facilitate the closing of the transactions contemplated by the Loan
        Agreement, Lender has entered into the Loan Agreement in reliance on Borrower’s
        undertaking to satisfy the conditions set forth herein; and

      

      WHEREAS,
        Borrower has agreed to satisfy the conditions set forth herein within the
        time
        periods set forth herein;

      

      NOW,
        THEREFORE, the parties agree as follows:

      

      1)  Landlord
        Agreements.
        Within
        thirty (30) days of the date hereof, Borrower shall provide Lender with (a)
        that
        certain landlord agreement in the form attached hereto executed by Borrower,
        CapGemeni
        U.S. LLC,
        and
        Bellevue Place Office Building Limited Partnership and (b) that certain landlord
        agreement in the form attached hereto executed by Borrower and International
        Business Machines Corporation.

      

      2)  Intellectual
        Property Security and Pledge Agreements
        Within
        ten (10) Business Days of being provided with patent and trademark security
        and
        pledge agreements in form and substance not inconsistent with the existing
        security and pledge agreements executed by Borrower in favor of Alexandra
        Global
        Master Fund Ltd. (with the sole exception that such agreements shall be
        subordinate to the existing assignment agreements executed by Borrower in
        favor
        of Alexandra Global Master Fund Ltd.), Borrower shall execute and deliver
        such
        agreements to Lender.

      

      3)  Lockbox
        Agreement.
        Within
        thirty (30) days of the date hereof, Borrower shall provide Lender with that
        certain lockbox agreement substantially in the form attached hereto executed
        by
        Borrower and HSBC Bank USA, National Association.

      

      4)  Event
        of Default; No Other Waiver; Counterparts.
        Borrower’s failure to timely comply with any of the foregoing covenants shall
        constitute an Event of Default under the Loan Agreement. Except as expressly
        set
        forth herein, nothing contained herein shall act as a waiver or excuse of
        performance of any Obligations. This Agreement may be executed in counterparts,
        including facsimile or electronic signature, each of which when so executed,
        shall be deemed an original, but all of which shall constitute but one and
        the
        same instrument.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF,
        this
        Post-Closing Agreement has been duly executed as of the day and year first
        above
        written.

       

      
         

      

      
        	 	 	 
	 	EMAGIN
                CORPORATION
	 
 	 
 	 
 
	
              	By:  	/s/ K.C. Park 
	 	
                
                  

                

                Name:K.C.
                  Park

                Title:
                  Interim CEO

              
	 	 
	 	 
	 	
                 

                 

                MORIAH
                  CAPITAL L.P.

                
                   

                  By:
                    Moriah Capital Management, L.P.,

                  General
                    Partner

                   

                  By:
                    Moriah Capital Management, GP, LLC,

                  General
                    Partner

                

                 

              

        	 	 	 
	 	
              
	 
 	 
 	 
 
	
              	By:  	/s/ Alexandre
                Speaker
	 	
                
                  

                

                Name:
                  Alexandre Speaker

                Title:
                  General PartnerExhibit 10.6

    
       

      Exhibit
        10.6

       

      REGISTRATION
        RIGHTS AGREEMENT

       

      This
        Registration Rights Agreement (this “Agreement”) is made and entered into
        as of August 7, 2007, by and between eMagin Corporation, a Delaware corporation
        (the “Company”), and Moriah Capital, L.P. (the
“Lender”).

       

      This
        Agreement is made pursuant to the Securities Issuance Agreement, dated as
        of the
        date hereof, by and between the Lender and the Company (as amended, modified
        or
        supplemented from time to time, the “Securities Issuance Agreement”), and
        pursuant to the Loan and Security Agreement (the “Loan Agreement”)
        referred to therein.

       

      The
        Company and the Lender hereby agree as follows:

       

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

       

      “Commission”
        means the Securities and Exchange Commission.

      

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

      

      “Effectiveness
        Date” means, with respect to the Registration Statement required to be filed
        hereunder, a date no later than one hundred and twenty (120) days following
        the
        date hereof.

      

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

      

      “Exchange
        Act” means the Securities Exchange Act of 1934, as amended, and any
        successor statute.

      

      “Filing
        Date” means with respect to the Registration Statement required to be filed
        hereunder, a date no later than thirty (30) days following the date
        hereof.

      

      “Holder”
        or “Holders” means the Lender or any of its affiliates or transferees to
        the extent any of them hold Registrable Securities.

      

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

      

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

      

      “Note”
        shall have the meaning set forth in the Securities Issuance
        Agreement.

       

       

       

      
        
          
          

        

        
           

          
            

          

        

        
          
          

        

      

       

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

      

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

      

      “Registrable
        Securities” means the shares of Common Stock (i) issued to the Lender
        pursuant to the Stock Issuance Agreement (including shares to
        be issued to the Lender on the date hereof and shares to be issued to the
        Lender
        upon an extension of the original term of the Loan Agreement, if so extended),
        and (ii) issuable upon the conversion of the Note.

      

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

      

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

      

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

      

      “Securities
        Act” means the Securities Act of 1933, as amended, and any successor
        statute.

      

      “Securities
        Issuance Agreement” shall have the meaning provided above.

      

      “Trading
        Market” means any of the OTC Bulletin Board, NASDAQ Capital Market, the
        Nasdaq National Market, the American Stock Exchange or the New York Stock
        Exchange.

      

      2.  Registration.

       

      (a)  On
        or prior to the applicable Filing
        Date, the Company shall prepare and file with the Commission a Registration
        Statement covering the Registrable Securities for an offering to be made
        on a
        continuous basis pursuant to Rule 415. The Company shall use good faith efforts
        to include the Registrable Securities in the Company’s Registration Statement on
        Form S-1 as filed with the Commission on July 25, 2007. If such inclusion
        is not
        permitted by the selling security holders thereunder, or is otherwise
        impractical, then the Registrable Securities shall be included in the Company’s
        next succeeding registration statement. The Registration Statement shall
        be on
        Form S-1 or SB-2. The Company shall cause such Registration Statement to
        become
        effective and remain effective as provided herein. The Company shall use
        its
        reasonable commercial efforts to cause such Registration Statement to be
        declared effective under the Securities Act as promptly as possible after
        the
        filing thereof,
but
        in any event
        no later than the Effectiveness Date. The Company shall use its reasonable
        commercial efforts to keep such Registration Statement continuously effective
        under the Securities Act until the date which is the earlier date of when
        (i)
        all Registrable Securities have been sold or (ii) all Registrable Securities
        may
        be sold immediately without registration under the Securities Act and without
        volume restrictions pursuant to Rule 144(k), as determined by the counsel
        to the
        Company pursuant to a written

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      opinion
        letter to such effect, addressed and acceptable to the Company’s transfer agent
        and the affected Holders (the “Effectiveness Period”). Notwithstanding
        anything contained herein to the contrary, in the event that the Commission
        limits the amount of Registrable Securities that may be sold by selling security
        holders in a particular Registration Statement, or the Commission takes the
        position that the all or a portion of the Registrable Securities cannot be
        registered, the Company may exclude from such registration statement the
        minimum
        number of Registrable Securities on behalf of the Lender as is necessary
        to
        comply with such limitation by the Commission. In such event the Company
        shall
        give the Lender prompt notice of the number of the Registrable Securities
        so
        excluded. Further, and in addition to the foregoing, the Company will not
        be liable for payment of any damages or penalties for any delay in registration
        of the Registrable Securities in the event that such delay is due to the
        fact
        that the SEC has limited the amount of Registrable Securities that may be
        included and sold by selling security holders in the Registration Statement
        pursuant to Rule 415 promulgated under the 1933 Act or any other
        basis.

       

       

      (c) Within
        3 business days of the
        Effectiveness Date, the Company shall cause its counsel to issue a blanket
        opinion in the form attached hereto as Exhibit A,
        to the transfer agent stating that
        the shares are subject to an effective registration statement and can be
        reissued free of restrictive legend upon notice of a sale by the Lender and
        confirmation by the Lender that it has complied with the prospectus delivery
        requirements, provided that the Company has not advised the transfer agent
        orally or in writing that the opinion has been withdrawn. Copies of the blanket
        opinion required by this Section 2(c)
        shall be delivered to the Lender
        within the time frame set forth above.

      

       

      3.  Registration
        Procedures. If and
        whenever the Company is required by the provisions hereof to effect the
        registration of any Registrable Securities under the Securities Act, the
        Company
        will, as expeditiously as possible:

       

      (a)  prepare
        and file with the Commission
        the Registration Statement with respect to such Registrable Securities, respond
        as promptly as possible to any comments received from the Commission, and
        use
        its best efforts to cause the Registration Statement to become and remain
        effective for the Effectiveness Period with respect thereto, and promptly
        provide to the Lender copies of all filings and correspondence relating
        thereto;

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      (b)  prepare
        and file with the Commission
        such amendments and supplements to the Registration Statement and the Prospectus
        used in connection therewith as may be necessary to comply with the provisions
        of the Securities Act with respect to the disposition of all Registrable
        Securities covered by the Registration Statement and to keep such Registration
        Statement effective until the expiration of the Effectiveness
        Period;

       

      (c)  furnish
        to the Lender such number of
        copies of the Registration Statement and the Prospectus included therein
        (including each preliminary Prospectus) as the Lender may reasonably request
        to
        facilitate the public sale or disposition of the Registrable Securities covered
        by the Registration Statement;

       

      (d)  use
        its commercially reasonable efforts
        to register or qualify the Lender’s Registrable Securities covered by the
        Registration Statement under the securities or “blue sky” laws of such
        jurisdictions within the United States as the Lender may reasonably request,
        provided, however, that the Company shall not for any such purpose be required
        to qualify generally to transact business as a foreign corporation in any
        jurisdiction where it is not so qualified or to consent to general service
        of
        process in any such jurisdiction;

       

      (e)  list
        the Registrable Securities covered
        by the Registration Statement with any securities exchange/Trading Market
        on
        which the Common Stock of the Company is then listed;

       

      (f)  immediately
        notify the Lender, at any
        time when a Prospectus relating thereto is required to be delivered under
        the
        Securities Act, of the happening of any event of which the Company has
        knowledge, or has reason to know, as a result of which the Prospectus contained
        in such Registration Statement, as then in effect, includes an untrue statement
        of a material fact or omits to state a material fact required to be stated
        therein or necessary to make the statements therein not misleading in light
        of
        the circumstances then existing; and

       

      (g)  make
        available for inspection by the
        Lender and any attorney, accountant or other representative retained by the
        Lender, all publicly available, non-confidential financial and other records,
        pertinent corporate documents and properties of the Company, and cause the
        Company’s officers, directors and employees to supply all publicly available,
        non-confidential information reasonably requested by the attorney, accountant
        or
        representative of the Lender.

       

      4.  Registration
        Expenses. All expenses
        relating to the Company’s compliance with Sections 2 and
        3 hereof, including,
        without limitation,
        all registration and filing fees, printing expenses, counsel fees and
        disbursements and independent public accountants for the Company, fees and
        expenses incurred in connection with complying with state securities or “blue
        sky” laws, fees of any Trading Market, transfer taxes, fees of transfer agents
        and registrars, fees of, and disbursements incurred by, one counsel for the
        Holders to the extent such counsel is required due to Company’s failure to meet
        any of its obligations hereunder, are called “Registration
        Expenses.” All selling
        commissions applicable to the sale of Registrable Securities, including,
        without
        limitation, any fees and disbursements of any special counsel to the Holders
        beyond those included in Registration Expenses, are called “Selling Expenses.”
The
        Company shall only be
        responsible for all Registration Expenses.

       

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

       

      5.  Indemnification.

       

      (a)  In
        the event of a registration of any
        Registrable Securities under the Securities Act pursuant to this Agreement,
        the
        Company will indemnify and hold harmless the Lender, and its officers,
        directors, partners, managers and members and each other person or entity,
        if
        any, who controls the Lender within the meaning of the Securities Act, against
        any losses, claims, damages or liabilities, joint or several, to which the
        Lender, or such persons or entities may become subject under the Securities
        Act
        or otherwise, insofar as such losses, claims, damages or liabilities (or
        Proceedings in respect thereof) arising out of or are based upon any
        Registration Statement under which such Registrable Securities were registered
        under the Securities Act pursuant to this Agreement, any preliminary Prospectus
        or final Prospectus contained therein, or any amendment or supplement thereof,
        or arise out of or are based upon any document, information or material in
        connection therewith, and will reimburse the Lender, and each such person
        or
        entity for any and all reasonable legal or other expenses incurred by them
        in
        connection with investigating or defending any such loss, claim, damage,
        liability or proceedings; provided, however, that the Company will not be
        liable
        in any such case if and to the extent that any such loss, claim, damage or
        liability arises out of or is based upon an untrue statement or alleged untrue
        statement or omission or alleged omission so made in conformity with information
        furnished by or on behalf of the Lender or any such person or entity in writing
        specifically for use in any such document.

       

      (b)  In
        the event of a registration of the
        Registrable Securities under the Securities Act pursuant to this Agreement,
        the
        Lender will indemnify and hold harmless the Company, and its officers, directors
        and each other person, if any, who controls the Company within the meaning
        of
        the Securities Act, against all losses, claims, damages or liabilities, joint
        or
        several, to which the Company or such persons may become subject under the
        Securities Act or otherwise, insofar as such losses, claims, damages or
        liabilities (or actions in respect thereof) arise out of or are based upon
        any
        untrue statement or alleged untrue statement of any material fact which was
        furnished in writing by the Lender to the Company expressly for use in (and
        such
        information is contained in) the Registration Statement under which such
        Registrable Securities were registered under the Securities Act pursuant
        to this
        Agreement, any preliminary Prospectus or final Prospectus contained therein,
        or
        any amendment or supplement thereof, or arise out of or are based upon the
        omission or alleged omission to state therein a material fact required to
        be
        stated therein or necessary to make the statements therein not misleading,
        and
        will reimburse the Company and each such person for any reasonable legal
        or
        other expenses incurred by them in connection with investigating or defending
        any such loss, claim, damage, liability or action, provided, however, that
        the
        Lender will be liable in any such case if and only to the extent that any
        such
        loss, claim, damage or liability arises out of or is based upon an untrue
        statement or alleged untrue statement or omission or alleged omission so
        made in
        conformity with information furnished in writing to the Company by or on
        behalf
        of the Lender specifically for use in any such document. Notwithstanding
        the
        provisions of this paragraph, the Lender shall not be required to indemnify
        any
        person or entity in excess of the amount of the aggregate net proceeds received
        by the Lender in respect of Registrable Securities in connection with any
        such
        registration under the Securities Act.

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      (c)  Promptly
        after receipt by a party
        entitled to claim indemnification hereunder (an “Indemnified Party”)
        of notice of the commencement of any
        Proceeding, such Indemnified Party shall, if a claim for indemnification
        in
        respect thereof is to be made against a party hereto obligated to indemnify
        such
        Indemnified Party (an “Indemnifying Party”),
        notify the Indemnifying Party in
        writing thereof, but the omission so to notify the Indemnifying Party shall
        not
        relieve it from any liability which it may have to such Indemnified Party
        other
        than under this Section and shall only relieve it from any liability which
        it
        may have to such Indemnified Party under this Section if and to the extent
        the
        Indemnifying Party is prejudiced by such omission. In case any such action
        shall
        be brought against any Indemnified Party and it shall notify the Indemnifying
        Party of the commencement thereof, the Indemnifying Party shall be entitled
        to
        participate in and, to the extent it shall wish, to assume and undertake
        the
        defense thereof with counsel satisfactory to such Indemnified Party, and,
        after
        notice from the Indemnifying Party to such Indemnified Party of its election
        so
        to assume and undertake the defense thereof, the Indemnifying Party shall
        not be
        liable to such Indemnified Party under this Section for any legal expenses
        subsequently incurred by such Indemnified Party in connection with the defense
        thereof; if the Indemnified Party retains its own counsel, then the Indemnified
        Party shall pay all reasonable fees, costs and expenses of such counsel,
        provided, however, that, if the defendants in any such action include both
        the
        Indemnified Party and the Indemnifying Party and the Indemnified Party shall
        have reasonably concluded that there may be reasonable defenses available
        to it
        which are different from or additional to those available to the Indemnifying
        Party or if the interests of the Indemnified Party reasonably may be deemed
        to
        conflict with the interests of the Indemnifying Party, the Indemnified Party
        shall have the right to select one separate counsel and to assume such legal
        defenses and otherwise to participate in the defense of such action, with
        the
        reasonable expenses and fees of such separate counsel and other expenses
        related
        to such participation to be reimbursed by the Indemnifying Party as
        incurred.

       

      (d)  In
        order to provide for just and
        equitable contribution in the event of joint liability under the Securities
        Act
        in any case in which either (i) the Lender, or any officer, director, partner,
        member, manager or controlling person or entity of the Lender, makes a claim
        for
        indemnification pursuant to this Section but it is judicially determined
        (by the
        entry of a final judgment or decree by a court of competent jurisdiction
        and the
        expiration of time to appeal or the denial of the last right of appeal) that
        such indemnification may not be enforced in such case notwithstanding the
        fact
        that this Section provides for indemnification in such case, or (ii)
        contribution under the Securities Act may be required on the part of the
        Lender
        or such officer, director, partner, member, manager or controlling person
        or
        entity of the Lender in circumstances for which indemnification is provided
        under this Section; then, and in each such case, the Company and the Lender
        will
        contribute to the aggregate losses, claims, damages or liabilities to which
        they
        may be subject (after contribution from others) in such proportion so that
        the
        Lender is responsible only for the portion represented by the percentage
        that
        the public offering price of its securities offered by the Registration
        Statement bears to the public offering price of all securities offered by
        such
        Registration Statement, provided, however, that, in any such case, (A) the
        Lender will not be required to contribute any amount in excess of the public
        offering price of all such securities offered by it pursuant to such
        Registration Statement and (B) no person or entity guilty of fraudulent
        misrepresentation (within the meaning of Section 10(f) of the Act) will be
        entitled to contribution from any person or entity who was not guilty of
        such
        fraudulent misrepresentation.

       

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      6.  Representations
        and
        Warranties.

       

      (a)  The
        Common Stock is registered pursuant
        to Section 12(b) or 12(g) of the Exchange Act and, except with respect to
        certain matters which the Company has disclosed to the Loan Agreement or
        the
        Securities Issuance Agreement, the Company has timely filed all proxy
        statements, reports, schedules, forms, statements and other documents required
        to be filed by it under the Exchange Act. Each Financial Statement was, at
        the
        time of its filing, in compliance with the requirements of its respective
        form
        and none of the Financial Statements, nor the financial statements (and the
        notes thereto) included in the Financial Statements, as of their respective
        filing dates, contained any untrue statement of a material fact or omitted
        to
        state a material fact required to be stated therein or necessary to make
        the
        statements therein, in light of the circumstances under which they were made,
        not misleading. The financial statements of the Company included in the
        Financial Statements comply as to form in all material respects with applicable
        accounting requirements and the published rules and regulations of the
        Commission or other applicable rules and regulations with respect thereto.
        Such
        financial statements have been prepared in accordance with U.S. generally
        accepted accounting principles (“GAAP”)
        applied on a consistent basis during
        the periods involved (except (i) as may be otherwise indicated in such financial
        statements or the notes thereto or (ii) in the case of unaudited interim
        statements, to the extent they may not include footnotes or may be condensed)
        and fairly present in all material respects the financial condition, the
        results
        of operations and the cash flows of the Company and its subsidiaries, on
        a
        consolidated basis, as of, and for, the periods presented in each such Financial
        Statements.

       

      (b)  The
        Common Stock is listed for trading
        on the OTC Bulletin Board and
        satisfies all requirements for the
        continuation of such listing. The Company has not received any notice that
        its
        Common Stock will be delisted from the OTC Bulletin Board (except for prior
        notices which have been fully remedied) or that the Common Stock does not
        meet
        all requirements for the continuation of such listing.

       

      (c)  Neither
        the Company, nor any of its
        affiliates, nor any person or entity acting on its or their behalf, has directly
        or indirectly made any offers or sales of any security or solicited any offers
        to buy any security under circumstances that would cause the offering of
        the
        Securities pursuant to the Securities Issuance Agreement and the Loan Documents
        to be integrated with prior offerings by the Company for purposes of the
        Securities Act which would prevent the Company from selling the Common Stock
        pursuant to Rule 506 under the Securities Act, or any applicable
        exchange-related stockholder approval provisions, nor will the Company or
        any of
        its affiliates take any action or steps that would cause the offering of
        such
        Securities to be integrated with other offerings.

       

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      (d)  The
        Notes and the shares of Common
        Stock which the Lender may acquire pursuant to the Notes are all restricted
        securities under the Securities Act as of the date of this Agreement. The
        Company will not issue any stop transfer order or other order impeding the
        sale
        and delivery of any of the Registrable Securities at such time as such
        Registrable Securities are registered for public sale or an exemption from
        registration is available, except as required by federal or state securities
        laws.

       

      (e)  The
        Company understands the nature of
        the Registrable Securities issuable upon the conversion of the Notes and
        recognizes that the issuance of such Registrable Securities may have a potential
        dilutive effect. The Company specifically acknowledges that its obligation
        to
        issue the Registrable Securities is binding upon the Company and enforceable
        regardless of the dilution such issuance may have on the ownership interests
        of
        other shareholders of the Company.

       

      (f) Except
        for agreements made in the
        ordinary course of business, there is no agreement that has not been filed
        with
        the Commission as an exhibit to a registration statement or to a form required
        to be filed by the Company under the Exchange Act, the breach of which could
        reasonably be expected to have a material and adverse effect on the Company
        or
        subsidiaries, or would prohibit or otherwise interfere with the ability of
        the
        Company to enter into and perform any of its obligations under this Agreement
        in
        any material respect.

       

      (g) The
        Company will at all times have
        authorized and reserved a sufficient number of shares of Common Stock for
        the
        full conversion of the Notes.

       

      7.  Miscellaneous.

       

      (a)  Remedies.
        In the event of a breach by the
        Company of any of its obligations under this Agreement, each Holder will
        be
        entitled to specific performance of its rights under this
        Agreement.

       

      (b)  
        Existing Registration
        Rights. Except as and
        to the extent specified in Schedule 7(b)
        hereto, the Company has not previously
        entered into any agreement granting any registration rights with respect
        to any
        of its securities to any Person that have not been fully
        satisfied.

       

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

       

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

       

      (d)  Discontinued
        Disposition. Each
        Holder agrees by its acquisition of such Registrable Securities that, upon
        receipt of a notice from the Company of the occurrence of a Discontinuation
        Event (as defined below), such Holder will forthwith discontinue disposition
        of
        such Registrable Securities under the applicable Registration Statement until
        such Holder’s receipt of the copies of the supplemented Prospectus and/or
        amended Registration Statement or until it is advised in writing (the
“Advice”)
        by the Company that the use of the
        applicable Prospectus may be resumed, and, in either case, has received copies
        of any additional or supplemental filings that are incorporated or deemed
        to be
        incorporated by reference in such Prospectus or Registration Statement. The
        Company may provide appropriate stop orders to enforce the provisions of
        this
        paragraph. For purposes of this Section, a “Discontinuation
        Event” shall mean (i)
        when the Commission notifies the Company whether there will be a “review” of
        such Registration Statement and whenever the Commission comments in writing
        on
        such Registration Statement (the Company shall provide true and complete
        copies
        thereof and all written responses thereto to each of the Holders); (ii) any
        request by the Commission or any other Governmental Authority for amendments
        or
        supplements to such Registration Statement or Prospectus or for additional
        information; (iii) the issuance by the Commission of any stop order suspending
        the effectiveness of such Registration Statement covering any or all of the
        Registrable Securities or the initiation of any Proceedings for that purpose;
        (iv) the receipt by the Company of any notification with respect to the
        suspension of the qualification or exemption from qualification of any of
        the
        Registrable Securities for sale in any jurisdiction, or the initiation or
        threatening of any Proceeding for such purpose; and/or (v) the occurrence
        of any
        event or passage of time that makes the financial statements included in
        such
        Registration Statement ineligible for inclusion therein or any statement
        made in
        such Registration Statement or Prospectus or any document incorporated or
        deemed
        to be incorporated therein by reference untrue in any material respect or
        that
        requires any revisions to such Registration Statement, Prospectus or other
        documents so that, in the case of such Registration Statement or Prospectus,
        as
        the case may be, it will not contain any untrue statement of a material fact
        or
        omit to state any material fact required to be stated therein or necessary
        to
        make the statements therein, in light of the circumstances under which they
        were
        made, not misleading.

       

      (e)  Piggy-Back
        Registrations. If at
        any time during the Effectiveness Period there is not an effective Registration
        Statement covering all of the Registrable Securities and the Company shall
        determine to prepare and file with the Commission a registration statement
        relating to an offering for its own account or the account of others under
        the
        Securities Act of any of its equity securities, other than on Form S-4 or
        Form
        S-8 (each as promulgated under the Securities Act) or their then equivalents
        relating to equity securities to be issued solely in connection with any
        acquisition of any entity or business or equity securities issuable in
        connection with stock option or other employee benefit plans, then the Company
        shall send to each Holder written notice of such determination and, if within
        15
        days after receipt of such notice, any such Holder shall so request in writing,
        the Company shall use its best efforts to include in such registration statement
        all or any part of such Registrable Securities such holder requests to be
        registered to the extent the Company may do so without violating registration
        rights of others which exist as of the date of this Agreement, subject to
        customary underwriter cutbacks applicable to all holders of registration
        rights
        and subject to obtaining any required the consent of any selling stockholder(s)
        to such inclusion under such registration statement.

       

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      (f)  Amendments
        and
        Waivers. The
        provisions of this Agreement, including the provisions of this sentence,
        may not
        be amended, modified or supplemented unless the same shall be in writing
        and
        signed by the Company and the Holders of the then outstanding Registrable
        Securities. Notwithstanding the foregoing, a waiver or consent to depart
        from
        the provisions hereof with respect to a matter that relates exclusively to
        the
        rights of certain Holders and that does not directly or indirectly affect
        the
        rights of other Holders may be given by Holders of at least a majority of
        the
        Registrable Securities to which such waiver or consent relates; provided,
        however, that the provisions of this sentence may not be amended, modified,
        or
        supplemented except in accordance with the provisions of the immediately
        preceding sentence.

       

      (g)  Notices.
        Any notice or request hereunder may
        be given to the Company or the Lender at the respective addresses set forth
        below or as may hereafter be specified in a notice designated as a change
        of
        address under this Section. Any notice or request hereunder shall be given
        by
        registered or certified mail, return receipt requested, hand delivery, overnight
        mail, Federal Express or other national overnight next day carrier
        (collectively, “Courier”).
        Notices and requests shall be
        deemed delivered upon receipt. The address for such notices and communications
        shall be as follows:

       

      
        	
                If
                  to the Company:

              	
                10500
                  N.E. 8th
                  Street

                Suite
                  1400

                Bellevue,
                  Washington 12533

                Attention:
                  John Atherly

              
	
                 

              	
                 

              
	
                with
                  a copy to:

              	
                 

              
	
                 

              	
                Sichenzia
                  Ross Friedman Ference LLP

                61
                  Broadway

                New
                  York, New York 10006

                Attention:
                  Richard A. Friedman, Esq.

              
	
                 

              	
                 

              
	
                If
                  to Lender:

              	
                685
                  Fifth Avenue

                New
                  York, New York 10022

                Attention:
                  Greg Zilberstein

              
	
                 

              	
                 

              
	
                with
                  a copy to:

              	
                 

              
	
                 

              	
                Cohen
                  Tauber Spievack & Wagner LLP

                420
                  Lexington Avenue

                Suite
                  2400

                New
                  York, New York 10170

                Attention:
                  Adam Stein, Esq.

              
	
                If
                  to any other Person who is then the registered Holder:

              	
                 

                To
                  the address of such Holder as it appears in the stock transfer
                  books of
                  the Company

              

      

      

      or
        such
        other address as may be designated in writing hereafter in accordance with
        this
        Section by such Person.

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

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

       

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

       

      (j) Governing
        Law. All questions
        concerning the
        construction, validity, enforcement and interpretation of this Agreement
        shall
        be governed by and construed and enforced in accordance with the internal
        laws
        of the State of New York, without regard to the principles of conflicts of
        law
        thereof. Each party agrees that all Proceedings concerning the interpretations,
        enforcement and defense of the transactions contemplated by this Agreement
        shall
        be commenced exclusively in the state and federal courts sitting in the City
        of
        New York, Borough of Manhattan. Each party hereto hereby irrevocably submits
        to
        the exclusive jurisdiction of the state and federal courts sitting in the
        City
        of New York, Borough of Manhattan for the adjudication of any dispute hereunder
        or in connection herewith or with any transaction contemplated hereby or
        discussed herein, and hereby irrevocably waives, and agrees not to assert
        in any
        Proceeding, any claim that it is not personally subject to the jurisdiction
        of
        any such court, that such Proceeding is improper. Each party hereto hereby
        irrevocably waives personal service of process and consents to process being
        served in any such Proceeding by mailing a copy thereof via registered or
        certified mail or overnight delivery (with evidence of delivery) to such
        party
        at the address in effect for notices to it under this Agreement and agrees
        that
        such service shall constitute good and sufficient service of process and
        notice
        thereof. Nothing contained herein shall be deemed to limit in any way any
        right
        to serve process in any manner permitted by law. Each party hereto hereby
        irrevocably waives, to the fullest extent permitted by applicable law, any
        and
        all right to trial by jury in any legal proceeding arising out of or relating
        to
        this Agreement or the transactions contemplated hereby. (k) Cumulative Remedies.
        The remedies provided herein are
        cumulative and not exclusive of any remedies provided by law or in
        equity.

       

      (l) Severability.
        If any term, provision, covenant or
        restriction of this Agreement is held by a court of competent jurisdiction
        to be
        invalid, illegal, void or unenforceable, the remainder of the terms, provisions,
        covenants and restrictions set forth herein shall remain in full force and
        effect and shall in no way be affected, impaired or invalidated, and the
        parties
        hereto shall use their reasonable efforts to find and employ an alternative
        means to achieve the same or substantially the same result as that contemplated
        by such term, provision, covenant or restriction. It is hereby stipulated
        and
        declared to be the intention of the parties that they would have executed
        the
        remaining terms, provisions, covenants and restrictions without including
        any of
        such that may be hereafter declared invalid, illegal, void or
        unenforceable.

       

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

       

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

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

       

      
         

      

      
        	
                 

              	
                 

              	
                 

              
	
                 

              	
                EMAGIN
                  CORPORATION

              
	
                 

                 

              	
                 

                 

              	
                 

                 

              
	
                 

              	
                By:  

              	
                /s/ K.C.
                  Park 

              
	
                 

              	
                
                  

                

                Name:
                  K.C. Park

                
                  Title: Interim
                    CEO

                

              
	
                 

              	
                 

                 

                MORIAH
                  CAPITAL, L.P.

                 

                By:
                  Moriah Capital Management, L.P.,

                General
                  Partner

                 

                By:
                  Moriah Capital Management, GP, LLC,

                General
                  Partner

                 

              
	
                 

              	
                 

              	
                 

              
	
                 

              	 
	
                 

                 

              	
                 

                 

              	
                 

                 

              
	
                 

              	
                By:  

              	
                /s/ Alexandre
                  Speaker

              
	
                 

              	
                
                  

                

                Name:
                  Alexandre Speaker

                Title:
                  General Partner

              

      

      

      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

       

      EXHIBIT
        A

       

      

      

      [DATE]

      

      [TRANSFER
        AGENT]

      [ADDRESS]

      

      Attn:
        [_________________]

      Ladies
        and Gentlemen:

       

      As
        counsel to eMagin Corporation, a Delaware corporation (the
“Company”), we have been requested to render our opinion to you in
        connection with the resale by [____________] (the “Selling Stockholder”),
        of an aggregate of [__________] shares (the “Shares”) of the Company’s
        Common Stock.

       

      A
        Registration Statement on Form [___] under the Securities Act of 1933, as
        amended (the “Act”), with respect to the resale of the Shares was
        declared effective by the Securities and Exchange Commission on
        [DATE]. Enclosed is the Prospectus dated [DATE]. We
        understand that the Shares are to be offered and sold in the manner described
        in
        the Prospectus.

       

      Based
        upon the foregoing, upon request by the Selling Stockholder at any time while
        the registration statement remains effective, it is our opinion that the
        Shares
        have been registered for resale under the Act and new certificates evidencing
        the Shares upon their transfer or re-registration by the Selling Stockholder
        may
        be issued without restrictive legend. We will advise you if the registration
        statement is not available or effective at any point in the future.

       

      
        	
                 

              	
                 

              	
                 

              
	
                 

              	
                Very
                  truly yours,

              
	
                 

                 

              	
                 

                 

              	
                 

                 

              
	
                 

              	
                By:  

              	
                /s/ 

              
	
                 

              	
                
                  

                

                [COMPANY
                  COUNSEL]

              
	
                 

              	
                 

              

      

      

       

      

      13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00128-of-00352.parquet"}]]