Document:

Exhibit 10.10

                          REGISTRATION RIGHTS AGREEMENT

         THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and
entered into as of the ___ day of June, 2005 (the "Effective Date") between
Ronco Corporation, a Delaware corporation (the "Company"), the parties set forth
on the signature page and Exhibit A hereto (each, a "Purchaser" and
collectively, the "Purchasers"), and other stockholders of the Company (the
"Investors").

                              W I T N E S S E T H:

         WHEREAS, the Purchasers have purchased shares of the Company's
Preferred Stock (as defined below) pursuant to Subscription Agreements (each, a
"Subscription Agreement" and collectively, the "Subscription Agreements") by and
between the Company and each Purchaser;

         WHEREAS, the Company has issued a warrant (the "Warrant") to purchase
shares of the Company's Common Stock to Sanders Morris Harris Inc., a Texas
corporation ("SMH");

         WHEREAS, the Investors also hold shares of the Company's common stock;
and

         WHEREAS, the Company, the Purchasers, SMH and the Investors desire to
set forth the registration rights to be granted by the Company to the Purchasers
and SMH.

         NOW, THEREFORE, in consideration of the mutual promises,
representations, warranties, covenants, and conditions set forth herein and in
the Subscription Agreements, the parties mutually agree as follows:

         1. Certain Definitions. As used in this Agreement, the following terms
shall have the following respective meanings:

         "Approved Market" means the NASD OTC Bulletin Board, Nasdaq National
Market, the Nasdaq SmallCap Market, the New York Stock Exchange, Inc., or the
American Stock Exchange, Inc.

         "Blackout Period" means, with respect to a registration, a period in
each case commencing on the day immediately after the Company notifies the
Purchasers, SMH and the Investors that they are required, pursuant to Section
4(f), to suspend offers and sales of Registrable Securities during which the
Company, in the good faith judgment of its Board of Directors, determines
(because of the existence of, or in anticipation of, any acquisition, financing
activity, or other transaction involving the Company, or the unavailability for
reasons beyond the Company's control of any required financial statements,
disclosure of information which is in its best interest not to publicly
disclose, or any other event or condition of similar significance to the
Company) that the registration and distribution of the Registrable Securities to
be covered by such registration statement, if any, would be seriously
detrimental to the Company and its stockholders and ending on the earlier of (1)
the date upon which the material non-public information commencing the Blackout
Period is disclosed to the public or ceases to be material and (2) such time as
the Company notifies the selling Holders that the Company will no longer delay
such filing of the Registration Statement, recommence taking steps to make such
Registration Statement effective, or allow sales pursuant to such Registration
Statement to resume; provided, however, that (a) the Company shall limit its use

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of Blackout Periods, in the aggregate, to 6030 Trading Days in any 12-month
period and (b) no Blackout Period may commence sooner than 60 days after the end
of a prior Blackout Period.

         "Business Day" means any day of the year, other than a Saturday,
Sunday, or other day on which the Commission is required or authorized to close.

         "Closing Date" means June 30, 2005, or such other time as is mutually
agreed between the Company and the Purchasers for the closing of the sale
referred to in the preamble above.

         "Commission" means the Securities and Exchange Commission or any other
federal agency at the time administering the Securities Act.

         "Common Stock" means the common stock, par value $.00001 per share, of
the Company and any and all shares of capital stock or other equity securities
of: (i) the Company which are added to or exchanged or substituted for the
Common Stock by reason of the declaration of any stock dividend or stock split,
the issuance of any distribution or the reclassification, readjustment,
recapitalization or other such modification of the capital structure of the
Company; and (ii) any other corporation, now or hereafter organized under the
laws of any state or other governmental authority, with which the Company is
merged, which results from any consolidation or reorganization to which the
Company is a party, or to which is sold all or substantially all of the shares
or assets of the Company, if immediately after such merger, consolidation,
reorganization or sale, the Company or the stockholders of the Company own
equity securities having in the aggregate more than 50% of the total voting
power of such other corporation.

         "Exchange Act" means the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the Commission promulgated thereunder.

         "Family Member" means (a) with respect to any individual, such
individual's spouse, any descendants (whether natural or adopted), any trust all
of the beneficial interests of which are owned by any of such individuals or by
any of such individuals together with any organization described in Section
501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any
such individual, and any corporation, association, partnership or limited
liability company all of the equity interests of which are owned by those above
described individuals, trusts or organizations and (b) with respect to any
trust, the owners of the beneficial interests of such trust.

         "Holder" means each Purchaser and Investor, SMH, or any of such
person's respective successors and Permitted Assigns who acquire rights in
accordance with this Agreement with respect to the Registrable Securities
directly or indirectly from a Purchaser, Investor or SMH, including from any
Permitted Assignee.

         "Inspector" means any attorney, accountant, or other agent retained by
a Purchaser for the purposes provided in Section 4(j).

         "Majority Holders" means at any time Holders of a majority of the
Registrable Securities.

         "Offering Price" means the Offering Price set forth in the Placement
Agent Agreement dated May 23, 2005, between the Company and SMH.

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         "Permitted Assignee" means (a) with respect to a partnership, its
partners or former partners in accordance with their partnership interests, (b)
with respect to a corporation, its stockholders in accordance with their
interest in the corporation, (c) with respect to a limited liability company,
its members or former members in accordance with their interest in the limited
liability company, (d) with respect to an individual party, any Family Member of
such party, (e) an entity that is controlled by, controls, or is under common
control with a transferor, or (f) a party to this Agreement.

         "Preferred Stock" means the Series A Convertible Preferred Stock, par
value $0.00001 per share, of the Company.

         The terms "register," "registered," and "registration" refers to a
registration effected by preparing and filing a registration statement in
compliance with the Securities Act, and the declaration or ordering of the
effectiveness of such registration statement.

         "Registrable Securities" means shares of Common Stock issued or
issuable to each Purchaser upon conversion of the Preferred Stock issued to each
pursuant to the Subscription Agreements, issued to each Investor, or issued or
to be issued to SMH pursuant to the Warrant, including shares of Common Stock
into which shares of Preferred Stock issued or issuable in payment of dividends
on such Preferred Stock are convertible, excluding (i) any Registrable
Securities that have been publicly sold or may be sold immediately without
registration under the Securities Act either pursuant to Rule 144 of the
Securities Act or otherwise; (ii) any Registrable Securities sold by a person in
a transaction pursuant to a registration statement filed under the Securities
Act or (iii) any Registrable Securities that are at the time subject to an
effective registration statement under the Securities Act.

         "Registration Default Date" means the date which is 90 days following
the Closing Date; provided, however, if the Registration Statement is subject to
review by the SEC staff, the Registration Default Date shall be the date which
is 120 days following the Closing Date.

         "Registration Default Period" means the period following the
Registration Default Date during which any Registration Event occurs and is
continuing.

         "Registration Event" means the occurrence of any of the following
events:

                  (a) the Company fails to file with the SEC the Registration
         Statement on or before the Registration Filing Date pursuant to Section
         3(a),

                  (b) the Registration Statement covering Registrable Securities
         is not declared effective by the Commission on or before the
         Registration Default Date,

                  (c) after the SEC Effective Date, sales cannot be made
         pursuant to the Registration Statement for any reason (including
         without limitation by reason of a stop order, or the Company's failure
         to update the Registration Statement) but except as excused pursuant to
         Section 3(a) or for the reasons specified in clause (d), or

                  (d) the Common Stock generally or the Registrable Securities
         specifically are not listed or included for quotation on an Approved
         Market, or trading of the Common Stock is suspended or halted on the

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         Approved Market, which at the time constitutes the principal market for
         the Common Stock, for more than two full, consecutive Trading Days;
         provided, however, a Registration Event shall not be deemed to occur if
         all or substantially all trading in equity securities (including the
         Common Stock) is suspended or halted on the Approved Market for any
         length of time.

         "Registration Statement" means the registration statement required to
be filed by the Company pursuant to Section 3(a).

         "Securities Act" means the Securities Act of 1933, as amended, or any
similar federal statute promulgated in replacement thereof, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect at
the time.

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

         "Trading Day" means a day on which (a) the national securities
exchange, (b) the Nasdaq Stock Market, or (c) such other securities market,
which at the time constitutes the principal securities market for the Common
Stock, is open for general trading of securities.

         2. Term. This Agreement shall continue in full force and effect for a
period of three (3) years from the Effective Date, or such shorter period ending
on the date that all Registrable Securities as of the date hereof have ceased to
be Registrable Securities, unless terminated sooner hereunder.

         3. Registration.

         (a) Registration on Form SB-2. As promptly as reasonably practicable
after the date hereof, but in any event not later than 30 days after the Closing
Date (the "Registration Filing Date"), the Company shall file with the
Commission a shelf registration statement on Form SB-2, or such other form for
which the Company then qualifies if the Company is not then eligible to use Form
SB-2, relating to the resale by the Holders of all of the Registrable
Securities, and the Company shall use its best efforts to cause such
registration statement to be declared effective within 90 days after the Closing
Date; provided, however, that the Company shall not be obligated to effect any
such registration, qualification, or compliance pursuant to this Section 3(a),
or keep such registration effective pursuant to Section 4: (i) in any particular
jurisdiction in which the Company would be required to qualify to do business as
a foreign corporation or as a dealer in securities under the securities or blue
sky laws of such jurisdiction or to execute a general consent to service of
process in effecting such registration, qualification or compliance, in each
case where it has not already done so; or (ii) during any Blackout Period, in
which case the Registration Filing Date shall be extended to the date
immediately following the last day of such Blackout Period.

         (b) Piggyback Registration. IfSubject to the restrictions in Section
3(e), if the Company shall determine to register for sale for cash any of its
Common Stock, for its own account or for the account of others (other than the
Holders), other than (i) a registration relating solely to employee benefit
plans or securities issued or issuable to employees, consultants (to the extent
the securities owned or to be owned by such consultants could be registered on
Form S-8) or any of their Family Members (including a registration on Form S-8)

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or (ii) a registration relating solely to a Commission Rule 145 transaction, a
registration on Form S-4 in connection with a merger, acquisition, divestiture,
reorganization, or similar event, the Company shall promptly give to the Holders
written notice thereof (and in no event shall such notice be given less than 20
calendar days prior to the filing of such registration statement), and shall,
subject to Section 3(c), include in such registration (and any related
qualification under blue sky laws or other compliance) (a "Piggyback
Registration"), all of the Registrable Securities specified in a written request
or requests, made within 10 calendar days after receipt of such written notice
from the Company, by any Holder or Holders. However, the Company may, without
the consent of the Holders, withdraw such registration statement prior to its
becoming effective if the Company or such other stockholders have elected to
abandon the proposal to register the securities proposed to be registered
thereby.

         (c) Underwriting. If a Piggyback Registration is for a registered
public offering involving an underwriting, the Company shall so advise the
Holders in writing or as a part of the written notice given pursuant to Section
3(b). In such event the right of any Holder to registration pursuant to Section
3(b) shall be conditioned upon such Holder's participation in such underwriting
and the inclusion of such Holder's Registrable Securities in the underwriting to
the extent provided herein. All Holders proposing to distribute their securities
through such underwriting shall (together with the Company and any other
stockholders of the Company distributing their securities through such
underwriting) enter into an underwriting agreement in customary form with the
underwriter or underwriters selected for such underwriting by the Company or
selling stockholders, as applicable. Notwithstanding any other provision of this
Section 3(c), if the underwriter or the Company determines that marketing
factors require a limitation of the number of shares to be underwritten, the
underwriter may exclude some or all Registrable Securities from such
registration and underwriting. The Company shall so advise all Holders (except
those Holders who failed to timely elect to distribute their Registrable
Securities through such underwriting or have indicated to the Company their
decision not to do so), and the number of shares of Registrable Securities that
may be included in the registration and underwriting, if any, shall be allocated
among such Holders as follows: the number of shares that may be included in the
registration and underwriting shall be allocated first to the Company and then,
subject to obligations and commitments existing as of the date hereof, to all
selling stockholders, including the Holders, who have requested to sell in the
registration on a pro rata basis according to the number of shares requested to
be included.

         No Registrable Securities excluded from the underwriting by reason of
the underwriter's marketing limitation shall be included in such registration.
If any Holder disapproves of the terms of any such underwriting, such Holder may
elect to withdraw therefrom by written notice to the Company and the
underwriter. The Registrable Securities and/or other securities so withdrawn
from such underwriting shall also be withdrawn from such registration; provided,
however, that, if by the withdrawal of such Registrable Securities a greater
number of Registrable Securities held by other Holders may be included in such
registration (up to the maximum of any limitation imposed by the underwriters),
then the Company shall offer to all Holders who have included Registrable
Securities in the registration the right to include additional Registrable
Securities pursuant to the terms and limitations set forth herein in the same
proportion used above in determining the underwriter limitation.

         (e) Other Registrations. Prior to the SEC Effective Date the Company
will not, without the prior written consent of the Majority Holders, file or
request the acceleration of any other registration statement filed with the
Commission, and during any time subsequent to the SEC Effective Date when the
Registration Statement for any reason is not available for use by any Holder for

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the resale of any Registrable Securities, the Company shall not, without the
prior written consent of the Majority Holders, file any other registration
statement or any amendment thereto with the Commission under the Securities Act
or request the acceleration of the effectiveness of any other registration
statement previously filed with the Commission, other than (A) any registration
statement on Form S-8 or Form S-4 and (B) any registration statement or
amendment which the Company is required to file or as to which the Company is
required to request acceleration pursuant to any obligation in effect on the
date of execution and delivery of this Agreement.

         (f) Failure to File Registration Statement. If a Registration Event
occurs, then the Company will make payments to each Purchaser, each Investor,
and SMH (to the extent that it has exercised the Warrant)(a "Qualified
Purchaser"), as partial liquidated damages for the minimum amount of damages to
the Qualified Purchaser by reason thereof, and not as a penalty, at a rate equal
to one percent (1%) of the Offering Price per share of Preferred Stock or, with
respect to SMH, one tenth of one percent (0.1%) of the Offering Price for each
share of Preferred Stock acquired upon exercise of the Warrant, held by such
Qualified Purchaser per month, for each calendar month of the Registration
Default Period (pro rated for any period less than 30 days); provided, however,
if a Registration Event occurs (or is continuing) on a date more than one-year
after the Qualified Purchaser acquired the Registrable Securities (and thus the
one-year holding period under Rule 144(d) has elapsed), liquidated damages shall
be paid only with respect to that portion of a Qualified Purchaser's Registrable
Securities that cannot then be immediately resold in reliance on Rule 144. Each
such payment shall be due and payable within five days after the end of each
calendar month of the Registration Default Period until the termination of the
Registration Default Period and within five days after such termination. Such
payments shall be in partial compensation to the Qualified Purchaser, and shall
not constitute the Qualified Purchaser's exclusive remedy for such events. The
Registration Default Period shall terminate upon (i) the filing of the
Registration Statement in the case of clause (a) of the definition of
"Registration Event," (ii) the SEC Effective Date in the case of clause (b) of
the definition of "Registration Event," (iii) the ability of the Qualified
Purchaser to effect sales pursuant to the Registration Statement in the case of
clause (c) of the definition of "Registration Event," (iv) the listing or
inclusion and/or trading of the Common Stock on an Approved Market, as the case
may be, in the case of clause (d) of the definition of "Registration Event," and
(v) in the case of the events described in clauses (b) and (c) of the definition
of "Registration Event," the earlier termination of the Registration Default
Period. The amounts payable as partial liquidated damages pursuant to this
paragraph shall be payable in lawful money of the United States. Amounts payable
as partial liquidated damages to each Qualified Purchaser hereunder with respect
to each share of Registrable Securities shall cease when the Qualified Purchaser
no longer holds such share of Registrable Securities or such share of
Registrable Securities can be immediately sold by the Qualified Purchaser in
reliance on Rule 144. SMH acknowledges and agrees that the partial liquidated
damages provided for in this Section 3(f) shall apply to Registrable Securities
of SMH only to the extent SMH has exercised the Warrant.

         4. Registration Procedures. In the case of each registration,
qualification, or compliance effected by the Company pursuant to Section 3
hereof, the Company will keep each Holder reasonably advised in writing (which
may include e-mail) as to the initiation of each registration, qualification,
and compliance and as to the completion thereof. At its expense with respect to
any registration statement filed pursuant to Section 3, the Company will:

         (a) prepare and file with the Commission with respect to such
Registrable Securities, a registration statement on Form SB-2 or any other form
for which the Company then qualifies or which counsel for the Company shall deem
appropriate, and which form shall be available for the sale of the Registrable
Securities in accordance with the intended method(s) of distribution thereof,
and use its commercially reasonable efforts to cause such registration statement

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to become and remain effective at least for a period ending with the first to
occur of (i) the sale of all Registrable Securities covered by the registration
statement, (ii) the availability under Rule 144 for the Holder to immediately,
freely resell without restriction all Registrable Securities covered by the
registration statement, and (iii) one year after a registration statement filed
pursuant to Section 3(a) is declared effective by the Commission (in either
case, the "Effectiveness Period"); provided, however, if at the end of such
one-year period, any Holder is not able to immediately, freely resell all
Registrable Securities that it owns, the Effectiveness Period shall continue
until terminated pursuant to clause (i) or (ii); provided that no later than
twofive business days before filing with the Commission a registration statement
or prospectus or any amendments or supplements thereto, the Company shall (i)
furnish to each Holder a copy of the "Plan of Distribution" and "Selling
Stockholder" portions of the registration statement and the other portions of
such documents proposed to be filed that the Company considers not to contain
material, non-public information (excluding any exhibits other than applicable
underwriting documents), in substantially the form proposed to be filed and (ii)
notify each Holder of Registrable Securities covered by such registration
statement of any stop order issued or threatened by the Commission and take all
reasonable actions required to prevent the entry of such stop order or to remove
it if entered;

         (b) if a registration statement is subject to review by the Commission,
promptly respond to all comments and diligently pursue resolution of any
comments to the satisfaction of the Commission;

         (c) prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective
during the Effectiveness Period (but in any event at least until expiration of
the 90-day period referred to in Section 4(3) of the Securities Act and Rule
174, or any successor thereto, thereunder, if applicable), and comply with the
provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement during such period in
accordance with the intended method(s) of disposition by the sellers thereof set
forth in such registration statement;

         (d) furnish, without charge, to each Holder of Registrable Securities
covered by such registration statement (i) a reasonable number of copies of such
registration statement (including any exhibits thereto other than exhibits
incorporated by reference), each amendment and supplement thereto as such Holder
may request, (ii) such number of copies of the prospectus included in such
registration statement (including each preliminary prospectus and any other
prospectus filed under Rule 424 under the Securities Act) as such Holders may
request, in conformity with the requirements of the Securities Act, and (iii)
such other documents as such Holder may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such Holder,
but only during the Effectiveness Period;

         (e) use its commercially reasonable best efforts to register or qualify
such Registrable Securities under such other applicable securities or blue sky
laws of such jurisdictions as any Holder of Registrable Securities covered by
such registration statement reasonably requests as may be necessary for the
marketability of the Registrable Securities (such request to be made by the time
the applicable registration statement is deemed effective by the Commission) and
do any and all other acts and things which may be reasonably necessary or
advisable to enable such Holder to consummate the disposition in such
jurisdictions of the Registrable Securities owned by such Holder; provided that
the Company shall not be required to (i) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this
paragraph (e), (ii) subject itself to taxation in any such jurisdiction, or
(iii) consent to general service of process in any such jurisdiction;

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         (f) as promptly as practicable after becoming aware of such event,
notify each Holder of such Registrable Securities at any time when a prospectus
relating thereto is required to be delivered under the Securities Act of the
happening of any event which comes to the Company's attention if as a result of
such event the prospectus included in such registration statement contains an
untrue statement of a material fact or omits to state any material fact required
to be stated therein or necessary to make the statements therein not misleading
and the Company shall promptly prepare and furnish to such Holder a supplement
or amendment to such prospectus (or prepare and file appropriate reports under
the Exchange Act) so that, as thereafter delivered to the purchasers of such
Registrable Securities, such prospectus shall not contain an 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 not misleading, unless suspension of
the use of such prospectus otherwise is authorized herein or in the event of a
Blackout Period, in which case no supplement or amendment need be furnished (or
Exchange Act filing made) until the termination of such suspension or Blackout
Period;

         (g) comply, and continue to comply during the period that such
registration statement is effective under the Securities Act, in all material
respects with the Securities Act and the Exchange Act and with all applicable
rules and regulations of the Commission with respect to the disposition of all
securities covered by such registration statement, and make available to its
security holders, as soon as reasonably practicable, an earnings statement
covering the period of at least twelve (12) months, but not more than eighteen
(18) months, beginning with the first full calendar month after the SEC
Effective Date, which earnings statement shall satisfy the provisions of Section
11(a) of the Securities Act.

         (h) as promptly as practicable after becoming aware of such event,
notify each Holder of Registrable Securities being offered or sold pursuant to
the Registration Statement of the issuance by the Commission of any stop order
or other suspension of effectiveness of the Registration Statement at the
earliest possible time;

         (i) permit the Holders of Registrable Securities being included in the
Registration Statement and their legal counsel, at such Holders' sole cost and
expense (except as otherwise specifically provided in Section 6) to review and
have a reasonable opportunity to comment on the Registration Statement and all
amendments and supplements thereto at least twofive Business Days prior to their
filing with the Commission and shall not file any such document to which the
Majority Holders reasonably object;

         (j) make available for inspection by any Holder and any Inspector
retained by such Holder, at such Holder's sole expense, all Records as shall be
reasonably necessary to enable such Holder to exercise its due diligence
responsibility, and cause the Company's officers, directors, and employees to
supply all information which such Holder or any Inspector may reasonably request
for purposes of such due diligence; provided, however, that such Holder shall
hold in confidence and shall not make any disclosure of any record or other
information which the Company determines in good faith to be confidential, and
of which determination such Holder is so notified at the time such Holder
receives such information, unless (i) the disclosure of such record is necessary
to avoid or correct a misstatement or omission in the Registration Statement and
a reasonable time prior to such disclosure the Holder shall have informed the
Company of the need to so correct such misstatement or omission and the Company
shall have failed to correct such misstatement of omission, (ii) the release of

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such record is ordered pursuant to a subpoena or other order from a court or
governmental body of competent jurisdiction or (iii) the information in such
record has been made generally available to the public other than by disclosure
in violation of this or any other agreement. The Company shall not be required
to disclose any confidential information in such records to any Inspector until
and unless such Inspector shall have entered into a confidentiality agreement
with the Company with respect thereto, substantially in the form of this Section
4(j), which agreement shall permit such Inspector to disclose records to the
Holder who has retained such Inspector. Each Holder agrees that it shall, upon
learning that disclosure of such Records is sought in or by a court or
governmental body of competent jurisdiction or through other means, give prompt
notice to the Company and allow the Company, at the Company's expense, to
undertake appropriate action to prevent disclosure of, or to obtain a protective
order for, the records deemed confidential. The Company shall hold in confidence
and shall not make any disclosure of information concerning a Holder provided to
the Company pursuant to this Agreement unless (i) disclosure of such information
is necessary to comply with federal or state securities laws, (ii) disclosure of
such information to the Staff of the Division of Corporation Finance is
necessary to respond to comments raised by the Staff in its review of the
Registration Statement, (iii) disclosure of such information is necessary to
avoid or correct a misstatement or omission in the Registration Statement, (iv)
release of such information is ordered pursuant to a subpoena or other order
from a court or governmental body of competent jurisdiction, or (v) such
information has been made generally available to the public other than by
disclosure in violation of this or any other agreement. The Company agrees that
it shall, upon learning that disclosure of such information concerning a Holder
is sought in or by a court or governmental body of competent jurisdiction or
through other means, give prompt notice to such Holder and allow such Holder, at
such Holder's expense, to undertake appropriate action to prevent disclosure of,
or to obtain a protective order for, such information;

         (k) use its best efforts to cause all the Registrable Securities
covered by the Registration Statement to be quoted on the NASD OTC Bulletin
Board or such other principal securities market on which securities of the same
class or series issued by the Company are then listed or traded;

         (l) provide a transfer agent and registrar, which may be a single
entity, for the Registrable Securities at all times;

         (m) cooperate with the Holders of Registrable Securities being offered
pursuant to the Registration Statement to issue and deliver certificates (not
bearing any restrictive legends) representing Registrable Securities to be
offered pursuant to the Registration Statement within five Trading Days after
delivery of certificates to the Company and enable such certificates to be in
such denominations or amounts as the Holders may reasonably request and
registered in such names as the Holders may request;

         (n) during the Effectiveness Period, refrain from bidding for or
purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any Person to purchase any such security or right if such bid,
purchase or attempt would in any way limit the right of the Holders to sell
Registrable Securities by reason of the limitations set forth in Regulation M
under the 1934 Act; and

         (o) take all other reasonable actions necessary to expedite and
facilitate disposition by the Holders of the Registrable Securities pursuant to
the Registration Statement.

         5. Suspension of Offers and Sales. Each Holder of Registrable
Securities agrees that, upon receipt of any notice from the Company of the
happening of any event of the kind described in Section 4(f) hereof or of the
commencement of a Blackout Period, such Holder shall discontinue disposition of
Registrable Securities pursuant to the registration statement covering such
Registrable Securities until such Holder's receipt of the copies of the

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supplemented or amended prospectus contemplated by Section 4(f) hereof or notice
of the end of the Blackout Period, and, if so directed by the Company, such
Holder shall deliver to the Company (at the Company's expense) all copies
(including, without limitation, any and all drafts), other than permanent file
copies, then in such Holder's possession, of the prospectus covering such
Registrable Securities current at the time of receipt of such notice. In the
event the Company shall give any such notice, the period mentioned in Section
4(a)(iii) hereof shall be extended by the greater of (i) ten business days or
(ii) the number of days during the period from and including the date of the
giving of such notice pursuant to Section 4(f) hereof to and including the date
when each Holder of Registrable Securities covered by such registration
statement shall have received the copies of the supplemented or amended
prospectus contemplated by Section 4(f) hereof.

         6. Registration Expenses. The Company shall pay all expenses in
connection with any registration, including, without limitation, all
registration, filing, stock exchange fees, printing expenses, all fees and
expenses of complying with securities or blue sky laws, and the fees and
disbursements of counsel for the Company and of its independent accountants;
provided that, in any underwritten registration, each party shall pay for its
own underwriting discounts and commissions and transfer taxes. Except as
provided above in this Section 6 and Section 9, the Company shall not be
responsible for the expenses of any attorney or other advisor employed by a
Holder of Registrable Securities.

         7. Assignment of Rights. No Holder may assign its rights under this
Agreement to any party without the prior written consent of the Company;
provided, however, that a Holder may assign its rights under this Agreement
without such restrictions to a Permitted Assignee as long as (a) such transfer
or assignment is effected in accordance with applicable securities laws; (b)
such transferee or assignee agrees in writing to become subject to the terms of
this Agreement; and (c) the Company is given written notice by such Holder of
such transfer or assignment, stating the name and address of the transferee or
assignee and identifying the Registrable Securities with respect to which such
rights are being transferred or assigned.

         8. Information by Holder. The Holder or Holders of Registrable
Securities included in any registration shall furnish to the Company such
information regarding such Holder or Holders and the distribution proposed by
such Holder or Holders as the Company may request in writing.

         9. Indemnification.

         (a) In the event of the offer and sale of Registrable Securities held
by Holders under the Securities Act, the Company shall, and hereby does,
indemnify and hold harmless, to the fullest extent permitted by law, each
Holder, its directors, officers, partners, each other person who participates as
an underwriter in the offering or sale of such securities, and each other
person, if any, who controls or is under common control with such Holder or any
such underwriter within the meaning of Section 15 of the Securities Act, against
any losses, claims, damages or liabilities, joint or several, and expenses to
which the Holder or any such director, officer, partner or underwriter or
controlling person may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages, liabilities or expenses (or actions or
proceedings, whether commenced or threatened, in respect thereof) arise out of
or are based upon any untrue statement or alleged untrue statement of any
material fact contained in any registration statement under which such shares
were registered under the Securities Act, any preliminary prospectus, final
prospectus or summary prospectus contained therein, or any amendment or
supplement thereto, or any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements

                                       10
<PAGE>

therein in light of the circumstances in which they were made not misleading,
and the Company shall reimburse the Holder, and each such director, officer,
partner, underwriter and controlling person for any legal or any other expenses
reasonably incurred by them in connection with investigating, defending or
settling any such loss, claim, damage, liability, action or proceeding; provided
that the Company shall not be liable in any such case (i) to the extent that any
such loss, claim, damage, liability (or action or proceeding in respect thereof)
or expense arises out of or is based upon an untrue statement or alleged untrue
statement in or omission or alleged omission from such registration statement,
any such preliminary prospectus, final prospectus, summary prospectus, amendment
or supplement in reliance upon and in conformity with written information
furnished to the Company through an instrument duly executed by or on behalf of
such Holder specifically stating that it is for use in the preparation thereof
or (ii) if the person asserting any such loss, claim, damage, liability (or
action or proceeding in respect thereof) who purchased the Registrable
Securities that are the subject thereof did not receive a copy of an amended
preliminary prospectus or the final prospectus (or the final prospectus as
amended or supplemented) at or prior to the written confirmation of the sale of
such Registrable Securities to such person because of the failure of such Holder
or underwriter to so provide such amended preliminary or final prospectus and
the untrue statement or alleged untrue statement or omission or alleged omission
of a material fact made in such preliminary prospectus was corrected in the
amended preliminary or final prospectus (or the final prospectus as amended or
supplemented). Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of the Holders, or any such director,
officer, partner, underwriter or controlling person and shall survive the
transfer of such shares by the Holder.

         (b) As a condition to including any Registrable Securities to be
offered by a Holder in any registration statement filed pursuant to this
Agreement, each such Holder agrees to be bound by the terms of this Section 9
and to indemnify and hold harmless, to the fullest extent permitted by law, the
Company, its directors and officers, and each other person, if any, who controls
the Company within the meaning of Section 15 of the Securities Act, against any
losses, claims, damages or liabilities, joint or several, to which the Company
or any such director or officer or controlling person may become subject under
the Securities Act or otherwise, insofar as such losses, claims, damages or
liabilities (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement in or omission or alleged omission from such registration
statement, any preliminary prospectus, final prospectus or summary prospectus
contained therein, or any amendment or supplement thereto, if such statement or
alleged statement or omission or alleged omission was made in reliance upon and
in conformity with written information about such Holder as a Holder of the
Company furnished to the Company by or on behalf of such Holder expressly for
use in the preparation thereof, and such Holder shall reimburse the Company, and
each such director, officer, and controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating,
defending, or settling and such loss, claim, damage, liability, action, or
proceeding; provided, however, that such indemnity agreement found in this
Section 9(b) shall in no event exceed the gross proceeds from the offering
received by such Holder. Such indemnity shall remain in full force and effect,
regardless of any investigation made by or on behalf of the Company or any such
director, officer or controlling person and shall survive the transfer by any
Holder of such shares.

         (c) Promptly after receipt by an indemnified party of notice of the
commencement of any action or proceeding involving a claim referred to in
Section 9(a) or (b) hereof (including any governmental action), such indemnified
party shall, if a claim in respect thereof is to be made against an indemnifying
party, give written notice to the indemnifying party of the commencement of such
action; provided that the failure of any indemnified party to give notice as

                                       11
<PAGE>

provided herein shall not relieve the indemnifying party of its obligations
under Section 9(a) or (b) hereof, except to the extent that the indemnifying
party is actually prejudiced by such failure to give notice. In case any such
action is brought against an indemnified party, unless in the reasonable
judgment of counsel to such indemnified party a conflict of interest between
such indemnified and indemnifying parties may exist or the indemnified party may
have defenses not available to the indemnifying party in respect of such claim,
the indemnifying party shall be entitled to participate in and to assume the
defense thereof, with counsel reasonably satisfactory to such indemnified party
and, after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof, the indemnifying party shall not be
liable to such indemnified party for any legal or other expenses subsequently
incurred by the latter in connection with the defense thereof, unless in such
indemnified party's reasonable judgment a conflict of interest between such
indemnified and indemnifying parties arises in respect of such claim after the
assumption of the defenses thereof or the indemnifying party fails to defend
such claim in a diligent manner, other than reasonable costs of investigation.
Neither an indemnified nor an indemnifying party shall be liable for any
settlement of any action or proceeding effected without its consent. No
indemnifying party shall, without the consent of the indemnified party, consent
to entry of any judgment or enter into any settlement, which does not include as
an unconditional term thereof the giving by the claimant or plaintiff to such
indemnified party of a release from all liability in respect of such claim or
litigation. Notwithstanding anything to the contrary set forth herein, and
without limiting any of the rights set forth above, in any event any party shall
have the right to retain, at its own expense, counsel with respect to the
defense of a claim.

      (d) In the event that an indemnifying party does or is not permitted to
assume the defense of an action pursuant to Section 9(c) or in the case of the
expense reimbursement obligation set forth in Section 9(a) and (b), the
indemnification required by Section 9(a) and (b) hereof shall be made by
periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills received or expenses, losses, damages, or
liabilities are incurred.

      (e) If the indemnification provided for in this Section 9 is held by a
court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss, liability, claim, damage or expense referred to herein, the
indemnifying party, in lieu of indemnifying such indemnified party hereunder,
shall (i) contribute to the amount paid or payable by such indemnified party as
a result of such loss, liability, claim, damage or expense as is appropriate to
reflect the proportionate relative fault of the indemnifying party on the one
hand and the indemnified party on the other (determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or omission 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), or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law or provides a lesser sum to the indemnified party
than the amount hereinafter calculated, not only the proportionate relative
fault of the indemnifying party and the indemnified party, but also the relative
benefits received by the indemnifying party on the one hand and the indemnified
party on the other, as well as any other relevant equitable considerations. No
indemnified party guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any
indemnifying party who was not guilty of such fraudulent misrepresentation.

      (f) Other Indemnification. Indemnification similar to that specified in
the preceding subsections of this Section 9 (with appropriate modifications)
shall be given by the Company and each Holder of Registrable Securities with

                                       12
<PAGE>

respect to any required registration or other qualification of securities under
any federal or state law or regulation or governmental authority other than the
Securities Act.

      10. Rule 144. For a period of at least 24 months following the Closing
Date, the Company will use its commercially reasonable best efforts (a) to
timely file all reports required to be filed by the Company after the date
hereof under the Securities Act and the Exchange Act (including the reports
pursuant to Section 13(a) or 15(d) of the Exchange Act referred to in
subparagraph (c)(1) of Rule 144) and the rules and regulations adopted by the
Commission thereunder), (b) if the Company is not required to file reports
pursuant to such sections, it will prepare and furnish to the Purchasers and
make publicly available in accordance with Rule 144(c) such information as is
required for the Purchasers to sell shares of Common Stock under Rule 144, and
(c) to take such further action as any holder of shares of Common Stock may
reasonably request, all to the extent required from time to time to enable the
Purchasers to sell shares of Common Stock without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144,
including causing its attorneys to issue and deliver any appropriate legal
opinion required to permit a Purchaser to sell shares of Common Stock under Rule
144 upon receipt of appropriate documentation relating to such sale.

      11. Independent Nature of Each Purchaser's Obligations and Rights. The
obligations of each Purchaser under this Agreement are several and not joint
with the obligations of any other Purchaser, and each Purchaser shall not be
responsible in any way for the performance of the obligations of any other
Purchaser under this Agreement. The decision of each Purchaser to purchase
Preferred Stock and enter into this Agreement has been made by each Purchaser
independently of any other Purchaser. Nothing contained herein and no action
taken by any Purchaser pursuant hereto, shall be deemed to constitute such
Purchasers as a partnership, an association, a joint venture, or any other kind
of entity, or create a presumption that the Purchasers are in any way acting in
concert or as a group with respect to such obligations or the transactions
contemplated by this Agreement. Each Purchaser acknowledges that no other
Purchaser has acted as agent for the Purchaser in connection with making its
investment in Preferred Stock and that no other Purchaser will be acting as
agent of the Purchaser in connection with monitoring its investment in the
Preferred Stock or enforcing its rights under this Agreement. Each Purchaser
shall be entitled to independently protect and enforce its rights, including
without limitation the rights arising out of this Agreement, and it shall not be
necessary for any other Purchaser to be joined as an additional party in any
proceeding for such purpose.

      12. Miscellaneous

      (a) Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York and the United States of
America, both substantive and remedial. Any judicial proceeding brought against
either of the parties to this agreement or any dispute arising out of this
Agreement or any matter related hereto shall be brought in the courts of the
State of New York, New York County, or in the United States District Court for
the Southern District of New York and, by its execution and delivery of this
agreement, each party to this Agreement accepts the jurisdiction of such courts.
The foregoing consent to jurisdiction shall not be deemed to confer rights on
any person other than the parties to this Agreement.

      (b) Successors and Assigns. Except as otherwise provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, Permitted Assigns, executors and administrators of the parties

                                       13
<PAGE>

hereto. In the event the Company merges with, or is otherwise acquired by, a
direct or indirect subsidiary of a publicly traded company, the Company shall
condition the merger or acquisition on the assumption by such parent company of
the Company's obligations under this Agreement.

         (c) Entire Agreement. This Agreement constitutes the full and entire
understanding and agreement between the parties with regard to the subjects
hereof.

         (d) Notices, etc. All notices or other communications which are
required or permitted under this Agreement shall be in writing and sufficient if
delivered by hand, by facsimile transmission, by registered or certified mail,
postage pre-paid, by electronic mail, or by courier or overnight carrier, to the
persons at the addresses set forth below (or at such other address as may be
provided hereunder), and shall be deemed to have been delivered as of the date
so delivered:

         If to the Company:      Ronco Corporation
                                 21344 Superior Street
                                 Chatsworth, CA 91311
                                 Attention: Richard Allen
                                 President and Chief Executive Officer
                                 Facsimile: (818) 775-1386
                                 e-mail: rallen@ronco.com

         If to the Purchasers:   To each Purchaser at the address
                                 set forth on Exhibit A

         with a copy to:         Sanders Morris Harris Inc.
                                 320 Park Avenue
                                 New York, NY 10022
                                 Attention: Megan Garufi, Syndicate Associate
                                 Facsimile:  (212) 317-2710
                                 e-mail: megan.garufi@smhgroup.com

or at such other address as any party shall have furnished to the other parties
in writing.

         (e) Delays or Omissions. No delay or omission to exercise any right,
power or remedy accruing to any Holder of any Registrable Securities, upon any
breach or default of the Company under this Agreement, shall impair any such
right, power or remedy of such Holder nor shall it be construed to be a waiver
of any such breach or default, or an acquiescence therein, or of or in any
similar breach or default thereunder occurring; nor shall any waiver of any
single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any waiver, permit, consent or approval of
any kind or character on the part of any Holder of any breach or default under
this Agreement, or any waiver on the part of any Holder of any provisions or
conditions of this Agreement, must be in writing and shall be effective only to
the extent specifically set forth in such writing. All remedies, either under
this Agreement, or by law or otherwise afforded to any holder, shall be
cumulative and not alternative.

         (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be enforceable against the parties actually
executing such counterparts, and all of which together shall constitute one
instrument.

                                       14
<PAGE>

         (g) Severability. In the case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

         (h) Amendments. The provisions of this Agreement may be amended at any
time and from time to time, and particular provisions of this Agreement may be
waived, with and only with an agreement or consent in writing signed by the
Company and by the holders of an 80100% of the number of shares of Registrable
Securities outstanding as of the date of such amendment or waiver; provided,
however, the Company and holders of a 90% majority of the number of shares of
Registrable Securities outstanding as of the date of such amendment or waiver.
The Purchasers acknowledge that by the operation of this Section 12(h), the
holders of an 80% majority of the outstanding Registrable Securities may have
the right and power to diminish or eliminate all rights of the Purchasers under
this Agreement may amend or waive provisions of this Agreement that do not have,
individually or in the aggregate, a material adverse effect on the registration
rights of the Purchasers.

         (i) Limitation on Subsequent Registration Rights. After the date of
this Agreement, the Company shall not, without the prior written consent of the
Holders of at least a majority of the Registrable Securities then outstanding,
enter into any agreement with any holder or prospective holder of any securities
of the Company that would grant such holder registration rights senior to those
granted to the Holders hereunder.

                         [Signatures on following page]

                                       15
<PAGE>

         This Registration Rights Agreement is hereby executed as of the date
first above written.

                                      COMPANY:

                                      RONCO CORPORATION

                                      By:____________________________________
                                           Name:
                                           Its:

                     [Counterpart Signature Pages Attached]

<PAGE>

           Counterpart Signature Page to Registration Rights Agreement

                                 PURCHASER:

                                 ----------------------------------------------

                                 ----------------------------------------------
                                                  (PRINT NAME)

                                 By:
                                             ----------------------------------

                                 Name:
                                             ----------------------------------

                                 Its:
                                             ----------------------------------

                                 INVESTOR:

                                 ----------------------------------------------

                                 ----------------------------------------------
                                                  (PRINT NAME)

                                 By:
                                             ----------------------------------

                                 Name:
                                             ----------------------------------

                                 Its:
                                             ----------------------------------

                                 SANDERS MORRIS HARRIS INC.

                                 By:___________________________________________
                                    Name:
                                    Its:

<PAGE>

                                    Exhibit A

                       Purchaser and Investor Information

Name                             Address                       Number of SharesExhibit 10.11

                              EMPLOYMENT AGREEMENT

      EMPLOYMENT AGREEMENT made as of the _____ day of June, 2005, by and
between RONCO CORPORATION (formerly known as Fi-Tek VII, Inc.), a Delaware
corporation, with principal offices in Chatsworth, California (the "Company"),
and RICHARD F. ALLEN, SR., a resident of the State of California ("Executive").

      1. Employment. The Company hereby agrees to employ Executive, and
Executive hereby accepts such employment, upon the terms and conditions set
forth in this Agreement.

      2. Term. The term of Executive's employment under this Agreement (the
"Term") shall commence on the date of the Closing, as defined in that certain
Asset Purchase Agreement, dated December 10, 2004, by and among Ronco Marketing
Corporation, a Delaware corporation ("RMC"), and Ronco Inventions, LLC, Popeil
Inventions, Inc., RP Productions, Inc., RMP Family Trust, Gina Wallman and
Martin Lescht as co-Trustees of RMP Family Trust, and Ronald M. Popeil (the
"Effective Date"), and, subject to the terms hereof, shall terminate on the
fourth anniversary of the Effective Date (the "Termination Date"); provided
that, the term of this Agreement will automatically renew for successive
one-year periods thereafter (in which case the Termination Date shall be
extended accordingly), unless, at least thirty days prior to the applicable
Termination Date, either party gives the other written notice of nonrenewal.
Upon the Effective Date, Ronco Acquisition Corp., a Delaware corporation and
wholly-owned subsidiary of the Company (formerly known as Fi-Tek VII, Inc.), a
Delaware corporation, shall have merged with and into RMC pursuant to that
certain Agreement and Plan of Merger, dated as of June _____, 2005, by and among
RMC, the Company, certain stockholders of the Company prior to the merger, and
Ronco Acquisition Corp., and Fi-Tek VII, Inc. will have been renamed Ronco
Corporation, such that RMC shall have become a wholly-owned subsidiary of Ronco
Corporation.

      3. Position and Duties. Executive will serve as the President and Chief
Executive Officer of the Company. Executive shall be elected or appointed a
member of the Company's Board of Directors ("Board") as of the Effective Time,
and from and after the Effective Time until the expiration of the Term, the
Company shall nominate the Executive for appointment or election as a member of
the Board and shall use commercially reasonable efforts to cause the Executive
to be appointed or elected a member of the Board. Executive will report directly
to the Board. Except as otherwise specifically provided herein, the duties which
may be assigned to Executive will be the usual and customary duties of the
offices of president and chief executive officer and will be consistent with the
provisions of the Company's Articles or Certificate of Incorporation, By-laws
and applicable law. At the request of the Board, Executive will serve as an
officer or director of the Company's subsidiaries and other affiliates without
additional compensation. Executive will devote all of his business time and
attention to the performance of his obligations, duties and responsibilities
under this Agreement. Executive may engage in personal, charitable, and passive
investment activities to the extent such activities do not conflict or interfere
with his obligations to, or his ability to perform the duties and
responsibilities of his employment by, the Company hereunder, as determined by
the Board in its discretion.

      4. Annual Compensation.

<PAGE>

      (a) Base Salary. The Company will pay salary to Executive at an annual
rate of $250,000, in accordance with its regular payroll practices. The Board
will review Executive's salary at least annually. The Board, acting in its
discretion, may increase (but may not decrease) the annual rate of Executive's
salary in effect at any time.

      (b) Bonus. For each fiscal year of the Company during the Term, Executive
will have an opportunity to earn a performance bonus ranging from $0 to
$600,000, determined in the sole discretion of the Board based upon such
criteria as it deems appropriate. It is anticipated that by or as soon as
practicable after the beginning of each year, the Board will communicate
performance criteria that it may take into account, in whole or in part, for
determining bonuses for that year. Annual incentive compensation, if any, will
be determined by the Board, in its sole discretion, and paid as soon as
practicable after the end of the year.

      5. Additional Compensation.

      (a) Transaction Bonus. The Company will pay Executive a bonus equal to
$315,000 in consideration of Executive's efforts in assisting the Company with
respect to the transactions and financing required to effect the Closing. The
Transaction Bonus will become payable in cash on the Effective Date.

      (b) Grant of Restricted Shares. On the Effective Date, the Company will
issue and sell to Executive 800,313 shares of the Company's common stock at a
price of $0.01 per share pursuant to a Restricted Stock Purchase Agreement in
substantially the form attached hereto as Schedule III (the "Grant Shares")
which shares shall be issued in increments as outlined herein below:

      1) On the Effective Date, the Company will issue 480,188 of such Grant
      Shares to Executive

      2) On the first anniversary of the Effective Date the Company will issue
      160,063 of such Grant Shares to Executive

      3) On the second anniversary of the Effective Date, the Company will issue
      160,062 of such Grant Shares to Executive.

      (c) This grant of Grant Shares to Executive is subject to a repurchase
option of the Company at a price of $0.01 per share regardless of its value
under the following conditions:

            1) The Executive leaves the Company's employment voluntarily prior
            the completion of the third anniversary of the Effective Date.

            2) There is no increase in the Company's net earnings for each of
            the following three (3) years: 2005, 2006 and 2007, over net
            earnings for year 2004 as computed by the Company's outside
            accountants under GAAP.

            3) In accordance with Section 7(c).

      6. Employee Benefit Programs and Perquisites.

                                       2
<PAGE>

      (a) General. Executive will be entitled to participate in such qualified
and nonqualified employee pension plans, group health, long term disability and
group life insurance plans, and any other welfare and fringe benefit plans,
arrangements, programs and perquisites sponsored or maintained by the Company
from time to time for the benefit of its employees generally or its senior
executives generally.

      (b) Reimbursement of Business Expenses. Executive is authorized to incur
reasonable expenses in carrying out his duties and responsibilities under this
Agreement and the Company will promptly reimburse him for all expenses that are
so incurred upon presentation of appropriate vouchers or receipts, subject to
the Company's expense reimbursement policies applicable to senior executive
officers generally.

      (c) Automobile-Related Expenses. During the term of this Agreement, the
Company will provide Executive with the use of an automobile of Executive's
choice The Company will cover the reasonable "drive-off" costs, monthly lease
payments of up to $1,000 per month, registration fees, fuel, maintenance and
insurance costs of such automobile. Executive will have the option to purchase
the automobile at the end of the lease term per the purchase provision within
the lease contract.

      (d) Location of Employment. Executive's place of employment during the
Term will be at the principal office of the Company, which is presently in the
Los Angeles, California metropolitan area, subject to the need for business
travel in connection with Company business.

      7. Termination of Employment.

      (a) Death. If Executive's employment with the Company terminates before
the end of the then current Term by reason of his death, then (1) as soon as
practicable thereafter, the Company will pay to his estate an amount equal to
his "Accrued Compensation" (defined below) through the date of death, and (2)
the Company will pay or reimburse Executive's spouse and covered dependents for
the cost of the first six months of continuing group health plan coverage which
they receive pursuant to COBRA. For the purposes of this Agreement, the term
"Accrued Compensation" means, as of any date, the amount of any unpaid salary
earned by Executive through that date, plus any additional amounts and/or
benefits payable to or in respect of Executive under and in accordance with the
provisions of any employee plan, program or arrangement under which Executive is
covered. The Company agrees to provide Executive with a one (1) million dollar
term life insurance policy for the death of Executive during the term of this
employment agreement. Executive's spouse or heirs will to be the beneficiary.

      (b) Disability. Company agrees to assist Executive in meeting the
contingency of disability. The Company deems it to be in its best interest to
establish a sick pay or disability plan to provide Executive's salary
continuation or sick pay benefits in the event of absence from work due to
accident, injury, or sickness by way of paying the premium of an insurance
policy, which will pay Executive no less than Executive's then-base salary per
month for the duration of the remaining portion of the Term of this Agreement.
If the Company terminates Executive's employment by reason of Executive's
"Disability" (defined below), then (1) as soon as practicable thereafter,
Executive will be entitled to receive his Accrued Compensation through the date
his employment terminates, and (2) the Company will pay or reimburse Executive

                                       3
<PAGE>

for the cost of the first twelve months of continuing group health plan coverage
which he and his covered dependents receive pursuant to COBRA. For purposes of
this Agreement, the term "Disability" means the inability of Executive to
substantially perform the customary duties and responsibilities of his
employment by the Company for a period of at least 120 consecutive days by
reason of a physical or mental illness or incapacity which is expected to result
in death or last indefinitely.

      (c) Termination by the Company for Cause or Voluntary Termination by
Executive. If the Company terminates Executive's employment for "Cause" (defined
below) or if Executive terminates his employment voluntarily for any reason
before the end of the then-current Term, Executive will be entitled to receive
his Accrued Compensation through the date his employment terminates in addition
to his pro rata bonus. In the event the Company terminates Executive's
employment for Cause any time on or prior to the second anniversary of the
Effective Date, the Company's right to repurchase Grant Shares issued to
Executive shall be limited to Grant Shares issued to Executive pursuant to
Section 5(b) (2) and Section 5 (b) (3) as herein above mentioned. For purposes
of this Agreement, the Company may terminate Executive's employment for "Cause"
if: (1) Executive is engaged in misconduct which is materially injurious to the
Company or its affiliates; (2) perpetration by Executive of an intentional and
knowing fraud against or affecting the Company or any customer, client, agent or
employee of the Company or any of its affiliates; or (3) Executive's commission
of a felony or a crime involving fraud, dishonesty or moral turpitude. In order
for Executive to terminate his employment voluntarily Executive must provide
sixty (60) calendar days written notice to the Company of such termination
pursuant to Section 18 hereof.

      (d) Termination by the Company Without Cause. If Executive's employment is
terminated by the Company without "Cause" then Executive will be entitled to
receive (1) Accrued Compensation through the termination date; (2) a single sum
payment equal to one million dollars ($1,000,000); and (3) reimbursement for the
cost of up to the first twelve months of continuing group health plan coverage
which Executive and his covered dependents receive pursuant to COBRA.

      8. Restrictive Covenants.

      (a) Nondisclosure of Confidential Information. Executive acknowledges
that, during the course of his employment hereunder, he will have access to
confidential and proprietary information, documents and other materials relating
to the Company and its affiliates which are not generally known to persons
outside the Company or its affiliates (whether conceived or developed by
Executive or others) and confidential information, documents and other materials
entrusted to the Company or its affiliates by third parties, including, without
limitation, financial information, trade secrets, techniques, know-how,
marketing and other business plans, data, strategies and forecasts, and the
substance of arrangements and agreements with customers, suppliers and others
(collectively, "Confidential Information"). Any Confidential Information
conceived or developed by Executive during the period of his employment will be
the exclusive property of the Company. Except as specifically authorized by the
Company, Executive will not (during or after his employment hereunder) disclose
Confidential Information to any third person, firm or entity or use Confidential
Information for his own purposes or for the benefit of any third person, firm or

                                       4
<PAGE>

entity other than (1) as may be legally required in response to any summons,
order or subpoena issued by a court or governmental agency, or (2) Confidential
Information which is or becomes available to the general public through no act
or failure to act by Executive.

      (b) Non-Competition. During Executive's employment by the Company
hereunder and during a period of three (3) years following the date of
termination of his employment with the Company , the Executive will not,
directly or indirectly, whether as an owner, partner, shareholder, consultant,
agent, employee, co-venturer or otherwise, or through any other "person" (which,
for purposes of this subsection, shall mean an individual, a corporation, a
partnership, an association, a joint-stock company, a trust, any unincorporated
organization, or a government or political subdivision thereof), compete in any
state or territory of the United States or any geographic area outside of the
United States with the Company in any business involving products similar in
nature to those designed, manufactured or sold by the Company

      (c) Non-Solicitation. During Executive's employment by the Company
hereunder and during a period of two (2) years following the date of termination
of his employment with the Company, Executive will not, directly or indirectly,
whether as an owner, partner, shareholder, consultant, agent, employee,
co-venturer or otherwise, or through any other "person" (which, for purposes of
this subsection, shall mean an individual, a corporation, a partnership, an
association, a joint-stock company, a trust, any unincorporated organization, or
a government or political subdivision thereof), (1) hire or attempt to hire any
employee of the Company or any affiliate of the Company or any person who was an
employee of the Company or any affiliate of the Company at any time during the
twelve months immediately prior to the termination of Executive's employment
with the Company, assist in such hiring by any other person, encourage any such
employee to terminate his relationship with the Company or any affiliate of the
Company; (2) directly or indirectly, request or cause customers, suppliers or
other parties with whom the Company or any of its affiliates has a business
relationship to cancel or terminate any such business relationship with the
Company or any of its affiliates; and (3) solicit from a customer of the Company
or its affiliates any business which is competing with or related to the
business of the Company or its affiliates, or with the products or services of
the Company or its affiliates.

      (d) No Other Remuneration; No Disparagement. Executive covenants and
agrees that during his employment by the Company he will not directly or
indirectly receive any remuneration from the Company or anyone connected with
the Company except as provided pursuant to the terms of this Agreement or
otherwise approved by the Board of Directors in writing. Executive further
covenants and agrees that at no time during or after his employment by the
Company will the Executive disparage the Company or any of its Affiliates,
shareholders, directors, officers, employees, or agents.

      (e) Reasonableness of Restrictive Covenants. Executive acknowledges that
the covenants contained in the preceding subsections of this Section 8 are
reasonable in the scope of the activities restricted, the geographic area
covered by the restrictions, and the duration of the restrictions, and that such
covenants are reasonably necessary to protect the Company's legitimate interests

                                       5
<PAGE>

in its Confidential Information and in its relationships with its employees,
customers and suppliers. Executive further acknowledges such covenants are
essential elements of this Agreement and that, but for such covenants, the
Company would not have entered into this Agreement.

      9. Company Property. All records, files, lists, including computer
generated lists, drawings, documents, equipment and similar items related to the
Company's business that Executive shall prepare or receive from the Company
shall remain the Company's sole and exclusive property. Executive will not copy
or cause to be copied, print out, or cause to be printed out any software,
documents or other materials originating with or belonging to the Company other
than in connection with performing his duties. Upon termination of his
employment with the Company, Executive shall promptly return to the Company all
property of the Company in his possession or control and will not retain in his
possession or control any software, documents or other materials originating
with or belonging to the Company.

      10. Intellectual Property. The Company has hired Executive to work full
time so anything Executive produces during the period of his employment with the
Company and applicable to the business of the Company is the property of the
Company. Any writing, invention, design, system, process, development or
discovery conceived, developed, created or made by Executive, alone or with
others, during the period of his employment with the Company and applicable to
the business of the Company, whether or not patentable, registerable or
copyrightable, shall become the sole and exclusive property of the Company.
Executive shall disclose the same promptly and completely to the Company, and
shall, during the period of his employment with the Company, and any time and
from time to time thereafter, (1) execute all documents reasonably requested by
the Company for the purpose of vesting in the Company the entire right, title
and interest in and to the same, (2) execute all documents reasonably requested
by the Company for filing such applications for and procuring all patents,
trademarks, service marks or copyrights as the Company, in its sole discretion,
may desire to prosecute, and (3) give the Company all assistance it may
reasonably require, including the giving of testimony in any suit, action,
investigation or other proceeding, in order to obtain, maintain, and protect the
Company's right therein and thereto. If such assistance is requested after
Executive's employment has terminated, the Company shall pay Executive
reasonable compensation in respect of, and reimburse Executive for Executive's
reasonable expenses incurred in connection with, rendering such assistance and
performing such acts. Executive shall not have or claim any right, title or
interest in any trade name, trademark, copyright or other similar rights
belonging to or used by the Company.

      11. Litigation Assistance. Executive will cooperate with the Company,
during the term of his employment and thereafter by making himself reasonably
available to testify on behalf of the Company or any subsidiary or affiliate of
the Company in any action, suit, or proceeding, whether civil, criminal,
administrative, or investigative, and to reasonably assist the Company or any
such subsidiary or affiliate in any such action, suit, or proceeding by
providing information and meeting and consulting with the Board or its
representatives or counsel, or representatives or counsel to the Company or any
such subsidiary or affiliate, as reasonably requested; provided, however, that
the same does not materially interfere with his then current professional
activities. The Company will reimburse Executive for all expenses reasonably
incurred by him in connection with his provision of testimony or assistance.

      12. Severability and Enforcement.

                                       6
<PAGE>

      (a) If any one or more of the provisions (or portions thereof) of this
Agreement shall for any reason be held by a final determination of a court of
competent jurisdiction to be invalid, illegal, or unenforceable in any respect,
such invalidity, illegality or unenforceability shall not affect any other
provisions (or portions of the provisions) of this Agreement, and the invalid,
illegal or unenforceable provisions shall be deemed replaced by a provision that
is valid, legal and enforceable and that comes closest to expressing the
intention of the parties hereto.

      (b) Without limiting the generality of Section 12(a), to the extent that
any court shall hold that any of the covenants set forth in Section 8 are
unenforceable because they are unreasonable as to scope and/or duration, then
the parties intend that such covenant(s) be reduced in scope and/or duration to
the extent required to be held enforceable.

      (c) Executive confirms and agrees that only a monetary remedy for a breach
of any of the covenants set forth in Section 8 would be inadequate, and may be
impracticable and difficult to prove, and further agrees that any such breach
would cause the Company irrevocable harm and damage. Accordingly, Executive
hereby specifically agrees that Company shall be entitled to temporary and
permanent injunctive relief without the necessity of proving actual damages as a
result of any material breach of Section 8 by Executive.

      13. Resolution of Disputes.

      (a) Agreement to Arbitrate; Injunctive Relief. THE PARTIES HERETO AGREE
THAT ANY CLAIM, DEMAND, DISPUTE, ACTION OR CAUSE OF ACTION ARISING UNDER OR
RELATING TO THE TERMS OF THIS EMPLOYMENT AGREEMENT, WHETHER SOUNDING IN CONTRACT
OR TORT OR OTHERWISE (COLLECTIVELY, THE "PARTIES' DISPUTES"), SHALL BE DECIDED,
UNLESS OTHERWISE SPECIFICALLY INDICATED HEREIN, BY ARBITRATION PURSUANT TO THE
NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES OF THE AMERICAN
ARBITRATION ASSOCIATION ("AAA RULES") AS MODIFIED HEREBY, AND THAT ANY PARTY TO
THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT
INCLUDING THIS SECTION WITH THE AMERICAN ARBITRATION ASSOCIATION (THE "AAA") AS
WRITTEN EVIDENCE OF THE AGREEMENT OF THE PARTIES TO SO ARBITRATE. THE PARTIES
HERETO ACKNOWLEDGE THAT THEY HAVE HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL
REGARDING THIS SECTION, THAT THEY FULLY UNDERSTAND ITS TERMS, CONTENT AND
EFFECT, AND THAT THEY VOLUNTARILY AND KNOWINGLY AGREE TO THE TERMS OF THIS
SECTION AND AGREE TO ARBITRATE ALL PARTIES' DISPUTES.

      (b) Any arbitration pursuant to this Agreement shall take place in Los
Angeles, California, before a panel of three commercially experienced
arbitrators appointed in accordance with the AAA Rules or, if the parties to the
arbitration agree, a single retired judge. Notice of any demand for arbitration
shall be provided in writing to the other party and to the AAA (the "Arbitration
Notice"). For the purposes of this Agreement, an arbitration shall be deemed to
have been commenced at such time as the Arbitration Notice has been delivered to
all the other parties pursuant to the provisions hereof. The parties shall be
entitled to discovery in conjunction with such arbitration (with the scope of

                                       7
<PAGE>

discovery to be co-extensive with discovery rights applicable to an arbitration
pursuant to California Code of Civil Procedure 1280 et seq.). Any award rendered
by the arbitrators (or, if applicable, retired judge) shall be final and may be
enforced in the Superior Court for the State of California for the County of Los
Angeles. Each party shall pay half of the fees and expenses of the arbitrators.

      (c) Notwithstanding any other provision of this Section or any other
provision of this Agreement, any party hereto may bring an action for injunctive
or other extraordinary relief pursuant to Section 1281.8 of the California Code
of Civil Procedure based upon a breach by another party hereto of this
Agreement.

      14. Indemnification. To the extent permitted by its Certificate of
Incorporation and By-laws and subject to applicable law, the Company will
indemnify, defend and hold Executive harmless from and against any claim,
liability or expense (including reasonable attorneys' fees) made against or
incurred by Executive as a result of his employment with the Company or any
subsidiary or other affiliate of the Company, including service as an officer or
director of the Company or any subsidiary or other affiliate of the Company.

      15. Assignment; Binding Nature. The services and duties to be performed by
Executive hereunder are personal and may not be assigned. This Agreement shall
be binding upon and inure to the benefit of the Company, its successors and
assigns and Executive and his heirs and representatives.

      16. No Impediment to Agreement. Executive covenants that except as
otherwise disclosed herein, he is not, as of the date hereof, and will not be,
during the period of his employment hereunder, employed under contract, oral or
written, by any other person, firm or entity, and is not and will not be bound
by the provisions of any other restrictive covenant or confidentiality
agreement, and is not aware of any other circumstance or condition (legal,
health or otherwise) which would constitute an impediment to, or restriction
upon, his ability to enter into this Agreement and to perform the duties and
responsibilities of his employment hereunder.

      17. Amendment or Waiver. No provision in this Agreement may be amended
unless such amendment is agreed to in writing and signed by Executive and an
authorized officer of the Company. Except as set forth herein, no delay or
omission to exercise any right, power or remedy accruing to any party shall
impair any such right, power or remedy or shall be construed to be a waiver of
or an acquiescence to any breach hereof. No waiver by either party of any breach
by the other party of any condition or provision contained in this Agreement to
be performed by such other party shall be deemed a waiver of a similar or
dissimilar condition or provision at the same or any prior or subsequent time.
Any waiver must be in writing and signed by Executive or an authorized officer
of the Company, as the case may be.

      18. Survivorship. The respective rights and obligations of the parties
hereunder shall survive any termination of Executive's employment to the extent
necessary to the intended preservation of such rights and obligations.

      19. Governing Law. This Agreement shall be governed by, construed and
interpreted in accordance with the laws of California.

                                       8
<PAGE>

      20. Notices. Any notice given to a party shall be in writing and shall be
deemed to have been given when delivered personally or sent by certified or
registered mail, postage prepaid, return receipt requested, or express mail to
the recipient at his or its last known address.

      21. Withholding. Employer may deduct and withhold from the payments to be
made to Employee hereunder any amounts required to be deducted and withheld by
Employer under the provisions of any statute, law, regulation or ordinance now
or hereafter enacted.

      22. Entire Agreement. This Agreement contains the entire understanding and
agreement between the parties concerning the subject matter hereof and
supersedes all prior agreements, understandings, discussions, negotiations and
undertakings, whether written or oral, between the parties with respect thereto.

      IN WITNESS WHEREOF, the undersigned have executed this Agreement on the
date first above written.

                                 RONCO CORPORATION

                                 By:
                                      --------------------------------------

                                 Date:    __________________________________

                                 RICHARD F. ALLEN, SR.

                                 By:
                                          ----------------------------------

                                 Date:    __________________________________

                                       9
<PAGE>

                                   Schedule I

                          Private Placement Memorandum

<PAGE>

                                   Schedule II

                       Restricted Stock Purchase Agreement

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