Document:

EXHIBIT 10.2

                          REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement (this "Agreement") is made and
entered into as of May 17, 2005, by and between RIVIERA TOOL COMPANY, a Michigan
corporation (the "Company"), and Laurus Master Fund, Ltd. (the "Purchaser").

         This Agreement is made pursuant to (i) the Securities Purchase
Agreement, dated as of the date hereof, by and between the Purchaser and the
Company (as amended, modified or supplemented from time to time, the "Securities
Purchase Agreement"), and pursuant to the Note and the Options referred to
therein and (ii) the Security Agreement, dated as of the date hereof, by and
between the Purchaser, the Company and certain Subsidiaries of the Company (as
amended, modified and/or supplemented from time to time, the "Security
Agreement"), and pursuant to the Notes and the Options referred to therein.

         The Company and the Purchaser hereby agree as follows:

         1. Definitions. Capitalized terms used and not otherwise defined herein
that are defined in the Securities Purchase Agreement or the Security Agreement,
as applicable, shall have the meanings given such terms in the Securities
Purchase Agreement or the Security Agreement, as applicable. 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, no
par value.

                  "Effectiveness Date" means (i) with respect to the initial
Registration Statement required to be filed hereunder, a date no later than one
hundred twenty days (120) days following the date hereof, and (ii) with respect
to each additional Registration Statement required to be filed hereunder, a date
no later than sixty (60) days following the applicable Filing Date.

                  "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, (i) with respect to the initial
Registration Statement required to be filed hereunder, a date no later than
sixty (60) days following the date hereof, (ii) with respect to the second
$2,000,000 tranche of Loans evidenced by a serialized Minimum Borrowing Note
funded after the date hereof or any serialized Minimum Borrowing Note issued
thereafter with the Company's consent, the date which is sixty (60) days after
such funding of such additional $2,000,000 of Loans evidenced by a such
serialized Minimum Borrowing Note, and (iii) with respect to shares of Common
Stock issuable to the Holder as a result of adjustments to the Fixed Conversion
Price or Exercise Price made pursuant to the Note or Section 4, the Option or
otherwise, thirty (30) days after

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the occurrence of such event or the date of the adjustment of the Fixed
Conversion Price or Exercise Price.

                  "Holder" or "Holders" means the Purchaser 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).

                  "Options" means the Common Stock options issued pursuant to
the Securities Purchase Agreement and Security 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 other amendments and
supplements to the Prospectus, including post-effective amendments, and all
material incorporated by reference or deemed to be incorporated by reference in
such Prospectus.

                  "Registrable Securities" means (i) the shares of Common Stock
issued upon the conversion of the $3.2 million Secured Convertible Term Note,
(ii) shares of Common Stock issued upon the conversion of the Minimum Borrowing
Note, and (iii) the shares of Common Stock issuable upon exercise of the Option.
For the avoidance of any doubt, the parties hereby acknowledge and agree that
the Company shall only be obligated to register shares of Common Stock issued
upon conversion of up to $4 million principal amount under the Minimum Borrowing
Notes (in the aggregate).

                  "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.

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

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

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

                  "Securities Purchase Agreement" shall have the meaning
provided above.

                  "Security Agreement" shall have the meaning provided above.

                  "Trading Market" means any of the NASD OTCBB, NASDAQ SmallCap
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 Registration Statement shall
         be on Form S-1. The Company shall use its reasonable commercial efforts
         to cause the Registration Statement to become effective and remain
         effective as provided herein. The Company shall use its reasonable
         commercial efforts to cause the Registration Statement to be declared
         effective under the Securities Act as promptly as possible after the
         filing thereof, but in any event no later than the Effectiveness Date.
         The Company shall use its reasonable commercial efforts to keep the
         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 opinion letter to such
         effect, addressed and acceptable to the Company's transfer agent and
         the affected Holders (the "Effectiveness Period").

                  (b) If: (i) the Registration Statement is not filed on or
         prior to the Filing Date; (ii) the Registration Statement is not
         declared effective by the Commission by the Effectiveness Date; (iii)
         after the Registration Statement is filed with and declared effective
         by the Commission, the Registration Statement ceases to be effective
         (by suspension or otherwise) as to all Registrable Securities to which
         it is required to relate at any time prior to the expiration of the
         Effectiveness Period (without being

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         succeeded immediately by an additional registration statement filed and
         declared effective) for a period of time which shall exceed 30 days in
         the aggregate per year or more than 20 consecutive calendar days
         (defined as a period of 365 days commencing on the date the
         Registration Statement is declared effective); or (iv) the Common Stock
         is not listed or quoted, or is suspended from trading on any Trading
         Market for a period of five (5) consecutive Trading Days (provided the
         Company shall not have been able to cure such trading suspension within
         30 days of the notice thereof or list the Common Stock on another
         Trading Market); (any such failure or breach being referred to as an
         "Event," and for purposes of clause (i) or (ii) the date on which such
         Event occurs, or for purposes of clause (iii) the date which such 30
         day or 20 consecutive day period (as the case may be) is exceeded, or
         for purposes of clause (iv) the date on which such five (5) Trading Day
         period is exceeded, being referred to as "Event Date"), then until the
         applicable Event is cured, the Company shall pay, for each day that an
         Event has occurred and is continuing, to each Holder an amount in cash,
         as liquidated damages and not as a penalty, equal to one-thirtieth
         (1/30th) of the product of: (A) the sum of (I) the original principal
         amount of the Note (as defined in the Securities Purchase Agreement)
         plus (y) the original principal amount of each applicable Minimum
         Borrowing Note (as defined in the Security Agreement) multiplied by (B)
         0.02. While such Event continues, such liquidated damages shall be paid
         not less often than each thirty (30) days. Any unpaid liquidated
         damages as of the date when an Event has been cured by the Company
         shall be paid within three (3) business days following the date on
         which such Event has been cured by the Company.

                  (c) Within three business days of the Effectiveness Date, the
         Company shall cause its counsel to issue an opinion substantially in
         the form attached hereto as Exhibit A, and subject to such counsel's
         reliance on reasonable assumptions and certificates of the appropriate
         parties hereto, 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 Purchaser and
         confirmation by the Purchaser 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 Laurus 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 Purchaser copies of all filings and Commission
         letters of comment relating thereto;

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                  (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 use
         commercially reasonable efforts to cause such Registration Statement to
         remain effective until the expiration of the Effectiveness Period;

                  (c) furnish to the Purchaser such number of copies of the
         Registration Statement and the Prospectus included therein (including
         each preliminary Prospectus) as the Purchaser reasonably may 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 Purchaser's Registrable Securities covered by the
         Registration Statement under applicable securities or "blue sky" laws
         of such jurisdictions within the United States as the Purchaser 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 or subject itself to taxation in any
         jurisdiction where it is not so qualified or subject 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 on which the Common
         Stock of the Company is then listed;

                  (f) promptly notify the Purchaser 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 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.

         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, fees and disbursements of
counsel and independent public accountants for the Company, fees and expenses
(including reasonable counsel fees) incurred in connection with complying with
applicable state securities or "blue sky" laws, fees of the NASD, 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 any fees and disbursements of any special
counsel to the Holders beyond those included in Registration

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Expenses, are called "Selling Expenses." The Company shall only be responsible
for all Registration Expenses.

         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 Purchaser, and its
         officers, directors and each other person, if any, who controls the
         Purchaser within the meaning of the Securities Act, against any losses,
         claims, damages or liabilities, joint or several, to which the
         Purchaser, 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
         contained in 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 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 Purchaser, 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 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
         Purchaser or any such person 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
         Purchaser 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 Purchaser 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 Purchaser will be liable in any such case if and

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         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
         Purchaser specifically for use in any such document. Notwithstanding
         the provisions of this paragraph, the Purchaser shall not be required
         to indemnify any person or entity in excess of the amount of the
         aggregate net proceeds received by the Purchaser in respect of
         Registrable Securities in connection with any such registration under
         the Securities Act.

                  (c) Promptly after receipt by a party entitled to claim
         indemnification hereunder (an "Indemnified Party") of notice of the
         commencement of any action, 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 5(c) and shall only relieve it from any liability
         which it may have to such Indemnified Party under this Section 5(c) 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 reasonably 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 5(c) 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 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 based on the advice
         of counsel 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 Purchaser, or any officer, director or controlling
         person of the Purchaser, makes a claim for indemnification pursuant to
         this Section 5 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

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         may not be enforced in such case notwithstanding the fact that this
         Section 5 provides for indemnification in such case, or (ii)
         contribution under the Securities Act may be required on the part of
         the Purchaser or such officer, director or controlling person of the
         Purchaser in circumstances for which indemnification is provided under
         this Section 5; then, and in each such case, the Company and the
         Purchaser 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 Purchaser 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 Purchaser 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. Representations and Warranties.

                  (a) The Common Stock of the Company 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 Purchaser on
         Schedule 6(a), during the preceding three fiscal years of the Company,
         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. The Company has filed (i) its Annual Report on Form
         10-K for its fiscal year ended August 31, 2004 and (ii) its Quarterly
         Report on Form 10-Q for the fiscal quarter ended February 28, 2005
         (collectively, the "SEC Reports"). Each SEC Report was, at the time of
         its filing, in substantial compliance with the requirements of its
         respective form and none of the SEC Reports, nor the financial
         statements (and the notes thereto) included in the SEC Reports, 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 SEC Reports 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 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 SEC Report.

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                  (b) The Common Stock is listed for trading on a Principal
         Market and satisfies all requirements for the continuation of such
         listing in all material respects. The Company has not received any
         notice that its Common Stock will be delisted from its Principal Market
         (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 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 Purchase Agreement and the
         Security Agreement 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 or subsidiaries take any
         action or steps that would cause the offering of such Securities to be
         integrated with other offerings.

                  (d) The Options, the Notes and the shares of Common Stock
         which the Purchaser may acquire pursuant to the Options and 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 the exercise
         of the Option 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) The Company will at all times on and after the sixtieth
         (60) day following the Closing Date have authorized and reserved a
         sufficient number of shares of Common Stock for the full conversion of
         the Notes and the exercise of the Options.

         7. Miscellaneous.

                  (a) Remedies. In the event of a breach by the Company or by a
         Holder, of any of their respective obligations under this Agreement,
         each Holder or the Company, as the case may be, will be entitled to
         exercise all rights granted by law and under this Agreement, including
         recovery of damages.

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                  (b) No Piggyback on Registrations. Except as and to the extent
         specified in Schedule 7(b) hereto, neither the Company nor any of its
         security holders (other than the Holders in such capacity pursuant
         hereto) may include securities of the Company in any Registration
         Statement other than the Registrable Securities, and the Company shall
         not after the date hereof enter into any agreement providing any such
         right for inclusion of shares in the Registration Statement to any of
         its security holders. 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.

                  (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 7(d), 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 Federal or state 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

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         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 fifteen days
         after receipt of such notice, any such Holder shall so request in
         writing, the Company shall include in such registration statement all
         or any part of such Registrable Securities such holder requests to be
         registered 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
         consent of any selling stockholder(s) to such inclusion under such
         registration statement.

                  (f) Amendments and Waivers. The provisions of this Agreement,
         including the provisions of this sentence, may not be amended, modified
         or supplemented, and waivers or consents to departures from the
         provisions hereof may not be given, unless the same shall be in 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 Purchaser 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 7(g). 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") or
         telecopy (confirmed by mail). Notices and requests shall be, in the
         case of those by hand delivery, deemed to have been given when
         delivered to any party to whom it is addressed, in the case of those by
         mail or overnight mail, deemed to have been given three (3) business
         days after the date when deposited in the mail or with the overnight
         mail carrier, in the

                                       11
<PAGE>

         case of a Courier, the next business day following timely delivery of
         the package with the Courier, and, in the case of a telecopy, when
         confirmed. The address for such notices and communications shall be as
         follows:

                  If to the Company:     Riviera Tool Company
                                         5460 Executive Parkway
                                         Grand Rapids, MI 49512

                                         Attention:        Peter C. Canepa, CFO
                                         Facsimile:  (616) 698-2470

                  If to a Purchaser:     To the address set forth under such
                                         Purchaser name on the signature
                                         pages hereto.

                  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 7(g) by such Person.

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

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

                  (j) THIS AGREEMENT AND THE OTHER RELATED AGREEMENTS SHALL BE
         GOVERNED BY AND CONSTRUED AND

                                       12
<PAGE>

         ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
         APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT
         REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. THE COMPANY HEREBY CONSENTS
         AND AGREES THAT THE STATE OR FEDERAL COURTS LOCATED IN THE COUNTY OF
         NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE JURISDICTION TO HEAR
         AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN THE COMPANY, ON THE ONE
         HAND, AND THE PURCHASER, ON THE OTHER HAND, PERTAINING TO THIS
         AGREEMENT OR ANY OF THE RELATED AGREEMENTS OR TO ANY MATTER ARISING OUT
         OF OR RELATED TO THIS AGREEMENT OR ANY OF THE OTHER RELATED AGREEMENTS;
         PROVIDED, THAT THE PURCHASER AND THE COMPANY ACKNOWLEDGE THAT ANY
         APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT LOCATED
         OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK; AND FURTHER
         PROVIDED, THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO
         PRECLUDE THE PURCHASER FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION
         IN ANY OTHER JURISDICTION TO COLLECT THE OBLIGATIONS, TO REALIZE ON THE
         COLLATERAL (AS DEFINED IN THE MASTER SECURITY AGREEMENT) OR ANY OTHER
         SECURITY FOR THE OBLIGATIONS (AS DEFINED IN THE MASTER SECURITY
         AGREEMENT), OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF
         THE PURCHASER. THE COMPANY EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO
         SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT,
         AND THE COMPANY HEREBY WAIVES ANY OBJECTION THAT IT MAY HAVE BASED UPON
         LACK OF PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS.
         THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING
         SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE
         BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, THE PARTIES HERETO
         WAIVE ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
         BROUGHT TO RESOLVE ANY DISPUTE, WHETHER ARISING IN CONTRACT, TORT, OR
         OTHERWISE BETWEEN THE PURCHASER AND/OR THE COMPANY ARISING OUT OF,
         CONNECTED WITH, RELATED OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED
         BETWEEN THEM IN CONNECTION WITH THIS AGREEMENT, ANY OTHER RELATED
         AGREEMENT OR THE TRANSACTIONS RELATED HERETO OR THERETO.

                  (k) Cumulative Remedies. The remedies provided herein are
         cumulative and not exclusive of any remedies provided by law.

                  (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

                                       13
<PAGE>

         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.

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

                   [BALANCE OF PAGE INTENTIONALLY LEFT BLANK;
                             SIGNATURE PAGE FOLLOWS]

                                       14
<PAGE>

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

RIVIERA TOOL COMPANY                          LAURUS MASTER FUND, LTD.

By:                                    By:
      -----------------------------            ---------------------------------
Name:                                  Name:
      -----------------------------            ---------------------------------
Title:                                 Title:
      -----------------------------            ---------------------------------

                                        Address for Notices:

                                        825 Third Avenue - 14th Floor
                                        New York, NY 10022
                                        Attention: David Grin
                                        Facsimile: 212-541-4434

                                       15
<PAGE>

                                    EXHIBIT A

                                [Month __, 2005]

[____________]
[Insert Address]
Attn:

         Re: Riviera Tool Company Registration Statement on Form S-1

Ladies and Gentlemen:

         As counsel to Riviera Tool Company ("Riviera") we have been requested
to furnish our letter to you relating to sales by ___________ ("_______") of up
to _________ shares of Riviera common stock (the "________ Shares"). The
________ Shares have been included in a Registration Statement on Form S-1 (No.
___________), as amended (the "Registration Statement"), filed with the United
States Securities and Exchange Commission (the "Commission") and declared
effective by the Commission ___________. As of the date hereof, the Registration
Statement remains in effect and no stop order suspending such effectiveness has
been issued by the Commission. The sale of the _______ Shares by ___________
under and pursuant to the Registration Statement will not be in violation of
Section 5 of the Securities Act of 1933, as amended.

         With respect to the removal of any restrictive legend on the
certificates evidencing the __________ Shares, you are hereby instructed to
remove such legend upon receipt of a broker representation letter that the
___________ Shares will be sold in accordance with the "Plan of Distribution"
contained in the prospectus and that a prospectus relating to the ___________
Shares has been delivered in connection with such sale of ____________ Shares.

         If you require any further information, please contact the undersigned.

                                                     Very truly yours,

                                                     [Company counsel]

                                       16RIVIERA TOOL COMPANY AND CERTAIN OF ITS SUBSIDIARIES
                            MASTER SECURITY AGREEMENT

To:      Laurus Master Fund, Ltd.
         c/o M&C Corporate Services Limited
         P.O. Box 309 GT
         Ugland House
         South Church Street
         George Town
         Grand Cayman, Cayman Islands

Date: May 17, 2005

To Whom It May Concern:

         1. To secure the payment of all Obligations (as hereafter defined),
Riviera Tool Company, a Michigan corporation (the "Company") and each other
entity that is required to enter into this Master Security Agreement (the
Company and each such other entity, an "Assignor" and, collectively, the
"Assignors") hereby assigns and grants to Laurus a continuing security interest
in all of the following property now owned or at any time hereafter acquired by
such Assignor, or in which such Assignor now has or at any time in the future
may acquire any right, title or interest (the "Collateral"): all cash, cash
equivalents, accounts, accounts receivable, deposit accounts, inventory,
equipment, goods, documents, instruments (including, without limitation,
promissory notes), contract rights, general intangibles (including, without
limitation, payment intangibles and an absolute right to license on terms no
less favorable than those current in effect among such Assignor's affiliates),
chattel paper, supporting obligations, investment property (including, without
limitation, all equity interests owned by any Assignor), letter-of-credit
rights, trademarks, trademark applications, tradestyles, patents, patent
applications, copyrights, copyright applications and other intellectual property
in which such Assignor now has or hereafter may acquire any right, title or
interest, all proceeds and products thereof (including, without limitation,
proceeds of insurance) and all additions, accessions and substitutions thereto
or therefor. In the event any Assignor wishes to finance the acquisition in the
ordinary course of business of any hereafter acquired equipment and has obtained
a written commitment from an unrelated third party financing source to finance
such equipment, Laurus shall release its security interest on such hereafter
acquired equipment so financed by such third party financing source. Except as
otherwise defined herein, all capitalized terms used herein shall have the
meanings provided such terms in the Securities Purchase Agreement referred to
below and the Security Agreement referred to below, as applicable.

         2. The term "Obligations" as used herein shall mean and include all
debts, liabilities and obligations owing by each Assignor to Laurus arising
under, out of, or in connection with: (i) that certain Securities Purchase
Agreement dated as of the date hereof by and between the Company and Laurus (the
"Securities Purchase Agreement") and (ii) the Related Agreements referred to in
the Securities Purchase Agreement, (iii) that certain Security Agreement dated
as of the date hereof by and among the Company, certain Subsidiaries of the
Company and Laurus (the "Security Agreement") and (iv) the Ancillary Agreements
referred to in the Security

<PAGE>

Agreement (the Securities Purchase Agreement and each Related Agreement and the
Security Agreement and each Ancillary Agreement, as each may be amended,
modified, restated or supplemented from time to time, collectively, the
"Documents"), and in connection with any documents, instruments or agreements
relating to or executed in connection with the Documents or any documents,
instruments or agreements referred to therein or otherwise, and in connection
with any other indebtedness, obligations or liabilities of each such Assignor to
Laurus arising in connection with the Documents, whether now existing or
hereafter arising, direct or indirect, liquidated or unliquidated, absolute or
contingent, due or not due and whether under, pursuant to or evidenced by a
note, agreement, guaranty, instrument or otherwise, including, without
limitation, obligations and indebtedness of each Assignor for post-petition
interest, fees, costs and charges that accrue after the commencement of any case
by or against such Assignor under any bankruptcy, insolvency, reorganization or
like proceeding (collectively, the "Debtor Relief Laws") in each case,
irrespective of the genuineness, validity, regularity or enforceability of such
Obligations, or of any instrument evidencing any of the Obligations or of any
collateral therefor or of the existence or extent of such collateral, and
irrespective of the allowability, allowance or disallowance of any or all of the
Obligations in any case commenced by or against any Assignor under any Debtor
Relief Law.

         3. The Company represents, warrants (each of which such representations
and warranties shall be deemed repeated upon the making of each request for a
Loan and made as of the time of each and every Loan hereunder) and covenants as
follows:

                  (a) except as set forth on Schedule 3(a), all of the
         Collateral (i) is owned by Company free and clear of all Liens
         (including any claims of infringement) except those in Laurus' favor
         and Permitted Liens and (ii) is not subject to any agreement
         prohibiting the granting of a Lien or requiring notice of or consent to
         the granting of a Lien.

                  (b) Company shall not encumber, mortgage, pledge, assign or
         grant any Lien in any Collateral of Company or any of Company's other
         assets to anyone other than Laurus and except for Permitted Liens.

                  (c) Company shall not dispose of any of the Collateral whether
         by sale, lease or otherwise except for the sale of Inventory in the
         ordinary course of business and for the disposition or transfer in the
         ordinary course of business during any fiscal year of obsolete and
         worn-out Equipment having an aggregate fair market value of not more
         than $25,000 and only to the extent that (i) the proceeds of any such
         disposition are used to acquire replacement Equipment which is subject
         to Laurus' first priority security interest or are used to repay Loans
         or to pay general corporate expenses, or (ii) following the occurrence
         of an Event of Default which continues to exist the proceeds of which
         are remitted to Laurus to be held as cash collateral for the
         Obligations.

                  (d) Company shall defend the right, title and interest of
         Laurus in and to the Collateral against the claims and demands of all
         Persons whomsoever, and take such actions, including (i) all actions
         reasonably necessary to grant Laurus "control" of any Investment
         Property, Deposit Accounts, Letter-of-Credit Rights or electronic
         Chattel Paper owned by Company, with any agreements establishing
         control to be in form and substance satisfactory to Laurus, (ii) the
         prompt (but in no event later than five (5)

                                       2
<PAGE>

         Business Days following Laurus' request therefor) delivery to Laurus of
         all original Instruments, Chattel Paper, negotiable Documents and
         certificated Stock owned by Company (in each case, accompanied by stock
         powers, allonges or other instruments of transfer executed in blank),
         (iii) notification of Laurus' interest in Collateral at Laurus'
         request, and (iv) the institution of litigation against third parties
         as shall be commercially reasonable in order to protect and preserve
         Company's and Laurus' respective and several interests in the
         Collateral.

                  (e) Company shall promptly, and in any event within five (5)
         Business Days after the same is acquired by it, notify Laurus of any
         commercial tort claim (as defined in the UCC) acquired by it and unless
         otherwise consented by Laurus, Company shall enter into a supplement to
         this Agreement granting to Laurus a Lien in such commercial tort claim.

                  (f) Company shall place notations upon its Books and Records
         and any financial statement of Company to disclose Laurus' Lien in the
         Collateral.

                  (g) If Company retains possession of any Chattel Paper or
         Instrument with Laurus' consent, upon Laurus' request such Chattel
         Paper and Instruments shall be marked with the following legend: "This
         writing and obligations evidenced or secured hereby are subject to the
         security interest of Laurus Master Fund, Ltd."

                  (h) Company shall perform in a reasonable time all other
         reasonable actions requested by Laurus to create and maintain in
         Laurus' favor a valid perfected first Lien in all Collateral subject
         only to Permitted Liens.

                  (i) except as set forth on Schedule 3(i), Company shall notify
         Laurus promptly and in any event within three (3) Business Days after
         obtaining knowledge thereof (i) of any event or circumstance that to
         Company's knowledge would cause Laurus to consider any then existing
         Account and/or Inventory as no longer constituting an Eligible Account
         or Eligible Inventory, as the case may be; (ii) of any material delay
         in Company's performance of any of its obligations to any Account
         Debtor; (iii) of any assertion by any Account Debtor of any material
         claims, offsets or counterclaims; (iv) of any allowances, credits
         and/or monies granted by Company to any Account Debtor; (v) of all
         material adverse information relating to the financial condition of an
         Account Debtor; (vi) of any material return of goods; and (vii) of any
         loss, damage or destruction of any of the Collateral. For the purposes
         of this Agreement, "knowledge of Company" and all derivatives thereof,
         shall mean the actual knowledge, after due inquiry, of each of Kenneth
         Rieth and/or Peter Canepa on the date hereof.

                  (j) All Eligible Accounts (i) which are billed on a
         construction completion basis but not payable until the project is
         completed, represent complete bona fide transactions which require no
         further act under any circumstances on Company's part to make such
         Accounts payable by the Account Debtors, (ii) are not, to the knowledge
         of Company, subject to any present, future contingent offsets or
         counterclaims, and (iii) do not represent bill and hold sales,
         consignment sales, guaranteed sales, sale or return or other similar
         understandings or obligations of any Affiliate or Subsidiary of
         Company.

                                       3
<PAGE>

         Company has not made, and will not make any agreement with any Account
         Debtor for any extension of time for the payment of any Account, any
         compromise or settlement for less than the full amount thereof, any
         release of any Account Debtor from liability therefor, or any deduction
         therefrom except a discount or allowance for prompt or early payment
         allowed by Company in the ordinary course of its business consistent
         with historical practice and as previously disclosed to Laurus in
         writing.

                  (k) Company shall keep and maintain its Equipment in good
         operating condition, except for ordinary wear and tear, and shall make
         all reasonably necessary repairs and replacements thereof so that the
         value and operating efficiency shall at all times be maintained and
         preserved. Company shall not permit any such items to become a Fixture
         to real estate or accessions to other personal property.

                  (l) Company shall maintain and keep all of its Books and
         Records concerning the Collateral at Company's executive offices listed
         in Schedule 12(z) of the Security Agreement.

                  (m) Company shall maintain and keep the tangible Collateral at
         the addresses listed in Schedule 12(z) of the Security Agreement,
         provided, that Company may change such locations or open a new
         location, provided that Company provides Laurus at least thirty (30)
         days prior written notice of such changes or new location and (ii)
         prior to such change or opening of a new location where Collateral
         having a value of more than $50,000 will be located, Company executes
         and delivers to Laurus such customary agreements as Laurus may request,
         including landlord agreements, mortgagee agreements and warehouse
         agreements, each in form and substance satisfactory to Laurus, in its
         reasonable discretion.

                  (n) Schedule 3(n) of the Security Agreement lists all banks
         and other financial institutions at which Company maintains deposits
         and/or other accounts, and such Schedule correctly identifies the name,
         address and telephone number of each such depository, the name in which
         the account is held, a description of the purpose of the account, and
         the complete account number. The Company shall not establish any
         depository or other bank account with any financial institution (other
         than the accounts set forth on Schedule 3(n)) without Laurus' prior
         written consent.

                  (o) All Inventory manufactured by Company in the United States
         of America shall be produced in accordance with the requirements of the
         Federal Fair Labor Standards Act of 1938, as amended and all rules,
         regulations and orders related thereto or promulgated thereunder.

                  (p) No effective security agreement, mortgage, deed of trust,
         financing statement, equivalent security or Lien instrument or
         continuation statement covering all or any part of the Collateral is or
         will be on file or of record in any public office, except those
         relating to Permitted Liens.

                  (q) Within 15 days of the Closing Date, each Assignor will (x)
         irrevocably direct all of its present and future Account Debtors (as
         defined below) and other persons

                                       4
<PAGE>

         or entities obligated to make payments constituting Collateral to make
         such payments directly to the lockboxes maintained by such Assignor
         (the "Lockboxes") with North Fork Bank or such other financial
         institution accepted by Laurus in writing as may be selected by the
         Company (the "Lockbox Bank") (each such direction pursuant to this
         clause (x), a "Direction Notice") and (y) provide Laurus with copies of
         each Direction Notice, each of which shall be agreed to and
         acknowledged by the respective Account Debtor. The Lockbox Bank shall
         agree to deposit the proceeds of such payments immediately upon receipt
         thereof in that certain deposit account maintained at the Lockbox Bank
         and evidenced by the account name of Riviera Tool Company and account
         number 270-405-4846, or such other deposit account accepted by Laurus
         in writing (the "Lockbox Deposit Account"). On or immediately prior to
         the Closing Date, the Company shall and shall cause the Lockbox Bank to
         enter into all such documentation acceptable to Laurus pursuant to
         which, among other things, the Lockbox Bank agrees to, following
         notification by Laurus (which notification Laurus shall only give
         following the occurrence and during the continuance of an Event of
         Default), comply only with the instructions or other directions of
         Laurus concerning the Lockbox and the Lockbox Deposit Account. All of
         each Assignor's invoices, account statements and other written or oral
         communications directing, instructing, demanding or requesting payment
         of any Account (as hereinafter defined) of any such Assignor or any
         other amount constituting Collateral shall conspicuously direct that
         all payments be made to the Lockbox or such other address as Laurus may
         direct in writing. If, notwithstanding the instructions to Account
         Debtors, any Assignor receives any payments, such Assignor shall
         immediately remit such payments to the Lockbox Deposit Account in their
         original form with all necessary endorsements. Until so remitted, the
         Assignors shall hold all such payments in trust for and as the property
         of Laurus and shall not commingle such payments with any of its other
         funds or property.

         4. The occurrence of any of the following events or conditions shall
constitute an "Event of Default" under this Master Security Agreement:

                  (a) any covenant or any other term or condition of this Master
         Security Agreement is breached in any material respect and such breach,
         if subject to cure, shall continues for a period of fifteen (15) days
         after the occurrence thereof;

                  (b) any representation or warranty, or statement made or
         furnished to Laurus under this Master Security Agreement by any
         Assignor or on any Assignor's behalf should at any time be false or
         misleading in any material respect;

                  (c) the loss, theft, substantial damage, destruction, sale or
         encumbrance to or of any of the Collateral or the making of any levy,
         seizure or attachment thereof or thereon except to the extent:

                  (i) such loss is covered by insurance proceeds which are used
         to replace the item or repay Laurus; or

                  (ii) said levy, seizure or attachment does not secure
         indebtedness in excess of $100,000 in the aggregate for all Assignors
         and such levy, seizure or attachment has been

                                       5
<PAGE>

         removed or otherwise released within ten (10) days of the creation or
         the assertion thereof;

                  (d) an Event of Default shall have occurred under and as
         defined in any Document.

         5. Upon the occurrence of any Event of Default and at any time
thereafter, Laurus may declare all Obligations immediately due and payable and
Laurus shall have the remedies of a secured party provided in the Uniform
Commercial Code as in effect in the State of New York, this Agreement and other
applicable law. Upon the occurrence of any Event of Default and at any time
thereafter, Laurus will have the right to take possession of the Collateral and
to maintain such possession on any Assignor's premises or to remove the
Collateral or any part thereof to such other premises as Laurus may desire. Upon
Laurus' request, each Assignor shall assemble or cause the Collateral to be
assembled and make it available to Laurus at a place designated by Laurus. If
any notification of intended disposition of any Collateral is required by law,
such notification, if mailed, shall be deemed properly and reasonably given if
mailed at least ten (10) days before such disposition, postage prepaid,
addressed to the applicable Assignor either at such Assignor's address shown
herein or at any address appearing on Laurus' records for such Assignor. Any
proceeds of any disposition of any of the Collateral shall be applied by Laurus
to the payment of all expenses in connection with the sale of the Collateral,
including reasonable attorneys' fees and other legal expenses and disbursements
and the reasonable expenses of retaking, holding, preparing for sale, selling,
and the like, and any balance of such proceeds may be applied by Laurus toward
the payment of the Obligations in such order of application as Laurus may elect,
and each Assignor shall be liable for any deficiency. For the avoidance of
doubt, following the occurrence and during the continuance of an Event of
Default, Laurus shall have the immediate right to withdraw any and all monies
contained in any deposit accounts in the name of any Assignor and controlled by
Laurus and apply same to the repayment of the Obligations (in such order of
application as Laurus may elect).

         6. If any Assignor defaults in the performance or fulfillment of any of
the terms, conditions, promises, covenants, provisions or warranties on such
Assignor's part to be performed or fulfilled under or pursuant to this Master
Security Agreement, Laurus may, at its option without waiving its right to
enforce this Master Security Agreement according to its terms, immediately or at
any time thereafter and without notice to any Assignor, perform or fulfill the
same or cause the performance or fulfillment of the same for each Assignor's
joint and several account and at each Assignor's joint and several cost and
expense, and the cost and expense thereof (including reasonable attorneys' fees)
shall be added to the Obligations and shall be payable on demand with interest
thereon at the highest rate permitted by law, or, at Laurus' option, debited by
Laurus from any deposit account in the name of any Assignor and controlled by
Laurus.

         7. Each Assignor appoints Laurus, any of Laurus' officers, employees or
any other person or entity whom Laurus may designate as such Assignor's
attorney, with power to execute such documents in each such Assignor's behalf
and to supply any omitted information and correct patent errors in any documents
executed by any Assignor or on any Assignor's behalf; to file financing
statements against such Assignor covering the Collateral (and, in connection
with the filing of any such financing statements, describe the Collateral as
"all assets and all personal

                                       6
<PAGE>

property, whether now owned and/or hereafter acquired" (or any substantially
similar variation thereof)); to sign such Assignor's name on public records; and
to do all other things Laurus deems necessary to carry out this Master Security
Agreement. Each Assignor hereby ratifies and approves all acts of the attorney
and neither Laurus nor the attorney will be liable for any acts of commission or
omission, nor for any error of judgment or mistake of fact or law other than
gross negligence or willful misconduct (as determined by a court of competent
jurisdiction in a final and non-appealable decision). This power being coupled
with an interest, is irrevocable so long as any Obligations remains unpaid.

         8. No delay or failure on Laurus' part in exercising any right,
privilege or option hereunder shall operate as a waiver of such or of any other
right, privilege, remedy or option, and no waiver whatever shall be valid unless
in writing, signed by Laurus and then only to the extent therein set forth, and
no waiver by Laurus of any default shall operate as a waiver of any other
default or of the same default on a future occasion. Laurus' books and records
containing entries with respect to the Obligations shall be admissible in
evidence in any action or proceeding, shall be binding upon each Assignor for
the purpose of establishing the items therein set forth and shall constitute
prima facie proof thereof. Laurus shall have the right to enforce any one or
more of the remedies available to Laurus, successively, alternately or
concurrently. Each Assignor agrees to join with Laurus in executing such
documents or other instruments to the extent required by the Uniform Commercial
Code in form satisfactory to Laurus and in executing such other documents or
instruments as may be required or deemed necessary by Laurus for purposes of
affecting or continuing Laurus' security interest in the Collateral.

         9. This Master Security Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of New York applicable to
contracts made and performed in such state and cannot be terminated orally. All
of the rights, remedies, options, privileges and elections given to Laurus
hereunder shall inure to the benefit of Laurus' successors and assigns. The term
"Laurus" as herein used shall include Laurus, any parent of Laurus', any of
Laurus' subsidiaries and any co-subsidiaries of Laurus' parent, whether now
existing or hereafter created or acquired, and all of the terms, conditions,
promises, covenants, provisions and warranties of this Agreement shall inure to
the benefit of each of the foregoing, and shall bind the representatives,
successors and assigns of each Assignor.

         10. Each Assignor hereby consents and agrees that the state of federal
courts located in the County of New York, State of New York shall have exclusive
jurisdiction to hear and determine any claims or disputes between Assignor, on
the one hand, and Laurus, on the other hand, pertaining to this Master Security
Agreement or to any matter arising out of or related to this Master Security
Agreement, provided, that Laurus and each Assignor acknowledges that any appeals
from those courts may have to be heard by a court located outside of the County
of New York, State of New York, and further provided, that nothing in this
Master Security Agreement shall be deemed or operate to preclude Laurus from
bringing suit or taking other legal action in any other jurisdiction to collect,
the Obligations, to realize on the Collateral or any other security for the
Obligations, or to enforce a judgment or other court order in favor of Laurus.
Each Assignor expressly submits and consents in advance to such jurisdiction in
any action or suit commenced in any such court, and each Assignor hereby waives
any objection which it may have based upon lack of personal jurisdiction,
improper venue or forum non conveniens.

                                       7
<PAGE>

         The parties desire that their disputes be resolved by a judge applying
such applicable laws. Therefore, to achieve the best combination of the benefits
of the judicial system and of arbitration, the parties hereto waive all rights
to trial by jury in any action, suite, or proceeding brought to resolve any
dispute, whether arising in contract, tort, or otherwise between Laurus, and/or
any Assignor arising out of, connected with, related or incidental to the
relationship established between them in connection with this Master Security
Agreement or the transactions related hereto.

         11. It is understood and agreed that any person or entity that desires
to become an Assignor hereunder, or is required to execute a counterpart of this
Master Security Agreement after the date hereof pursuant to the requirements of
any Document, shall become an Assignor hereunder by (x) executing a Joinder
Agreement in form and substance satisfactory to Laurus, (y) delivering
supplements to such exhibits and annexes to such Documents as Laurus shall
reasonably request and (z) taking all actions as specified in this Master
Security Agreement as would have been taken by such Assignor had it been an
original party to this Master Security Agreement, in each case with all
documents required above to be delivered to Laurus and with all documents and
actions required above to be taken to the reasonable satisfaction of Laurus.

         12. All notices from Laurus to any Assignor shall be sufficiently given
if mailed or delivered to such Assignor's address set forth below.

                              Very truly yours,
                              RIVIERA TOOL COMPANY

                              By:
                                  --------------------------------
                              Name:
                              Title:
                              Address:

                              ACKNOWLEDGED:

                              LAURUS MASTER FUND, LTD.

                              By:
                                  --------------------------------
                              Name:
                              Title:

                                       8

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