Document:

THIS
      WARRANT AND ANY SHARES OF COMMON STOCK ISSUED UPON EXERCISE HEREOF HAVE NOT
      BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED
      FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR
      DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY BE AFFECTED WITHOUT AN
      EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL THAT
      SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED.

     

    

     

    TELECOMM
      SALES NETWORK, INC.

     

    WARRANT
      TO PURCHASE 

    [__________]
      SHARES

    OF
      COMMON STOCK

    (SUBJECT
      TO ADJUSTMENT)

     

    

     

    
      	
              No.
                PW-1

            	
              January
                10, 2006

            

    

    

     

    This
      certifies that for value, [_______________] or
      its
      registered assigns (the “Holder”),
      is
      entitled, subject to the terms set forth below, at any time from and after
      January 10, 2006 (the “Original Issuance
      Date”)
      and
      before 5:00 p.m., Eastern Time, on the January 9, 2010 (the “Expiration
      Date”),
      to
      purchase from Telecomm
      Sales Network, Inc.,
      a
      Delaware corporation (the “Company”),
      [_____________ (________)]
      shares
      (subject to adjustment as described herein), of common stock, par value $0.0001
      per share, of the Company (the “Common
      Stock”),
      upon
      surrender hereof, at the office of the Company referred to below, with a duly
      executed subscription form in the form attached hereto as Exhibit A
      and
      simultaneous payment therefor in lawful, immediately available money of the
      United States or otherwise as hereinafter provided, at an initial exercise
      price
      per share of $2.50
      (the
“Purchase
      Price”)
      The
      Purchase Price is subject to further adjustment as provided below, and the
      term
“Common
      Stock”
shall
      include, unless the context otherwise requires, the stock and other securities
      and property at the time receivable upon the exercise of this Warrant. The
      term
“Warrants,”
as
      used herein, shall mean this Warrant and any other Warrants delivered in
      substitution or exchange therefor as provided herein.

     

    This
      Warrant was issued in connection with the Company’s private placement offering
      (the “Offering”)
      of its
      Common Stock as described in greater detail in the Company’s Confidential
      Private Placement Memorandum, dated November 16, 2005, as
      amended or supplemented from time to time
      (the
“Memorandum”).
      [______________] acted
      as
      a participating dealer for the Offering. In the Offering, the Company sold
      its
      securities to “accredited investors” pursuant to subscription
      agreements.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    1.  Exercise.
      

     

    A.  This
      Warrant may be exercised at any time or from time to time from and after the
      Original Issuance Date and before 5:00 p.m., Eastern Time, on the
      Expiration Date, on any business day, for the full number of shares of Common
      Stock called for hereby, by surrendering it at the Company’s office, at 516-D
      River Highway, PMB 297 Mooresville, North Carolina 28117-6830, Attention:
      Stephen Hoelscher, Chief Financial Officer, with the subscription form duly
      executed, together with payment in an amount equal to (a) the number of
      shares of Common Stock called for on the face of this Warrant, as adjusted
      in
      accordance with the preceding paragraph of this Warrant multiplied (b) by
      the then Purchase Price. Payment of the Purchase Price must be made by payment
      in immediately available funds. This Warrant may be exercised for less than
      the
      full number of shares of Common Stock at the time called for hereby, except
      that
      the number of shares of Common Stock receivable upon the exercise of this
      Warrant as a whole, and the sum payable upon the exercise of this Warrant as
      a
      whole, shall be proportionately reduced. Upon a partial exercise of this Warrant
      in accordance with the terms hereof, this Warrant shall be surrendered, and
      a
      new Warrant of the same tenor and for the purchase of the number of such shares
      not purchased upon such exercise shall be issued by the Company to Holder
      without any charge therefor. A Warrant shall be deemed to have been exercised
      immediately prior to the close of business on the date of its surrender for
      exercise as provided above, and the person entitled to receive the shares of
      Common Stock issuable upon such exercise shall be treated for all purposes
      as
      the holder of such shares of record as of the close of business on such date.
      Within ten (10) business days after such date, the Company shall issue and
      deliver to the person or persons entitled to receive the same a certificate
      or
      certificates for the number of full shares of Common Stock issuable upon such
      exercise, together with cash, in lieu of any fraction of a share, equal to
      such
      fraction of the then Fair Market Value (as defined below) on the date of
      exercise of one full share of Common Stock.

     

    B.  In
      lieu of
      exercising this Warrant for cash pursuant to Section
      1. A
      above,
      the Holder may elect to satisfy the Purchase Price by exchanging the Warrant
      for
      a number of shares of Common Stock computed using the following formula (such
      election being referred to herein as a “Net
      Issue Exercise Election”):

     

    

    
      	
              X
                =
                

            	
              Y(A-B)

            
	
              A

            

    

    

    
      	 	
              Where

            	 	
              X
                =
                

            	
              the
                number of shares of Common Stock to be issued to the Holder pursuant
                to
                this Section
                1

            

    

    

    
      	 	
              Y
                =
                

            	
              the
                number of shares of Common Stock purchasable under this Warrant or,
                if
                only a portion of this Warrant is being exercised, the portion of
                this
                Warrant being exercised (at the date of such
                calculation).

            

    

    

    
      	 	 	 	
              A
                =
                

            	
              the
                Fair Market Value of one share of the Common Stock (at the date of
                such
                calculation).

            

    

    

    
      	 	 	 	
              B
                =
                

            	
              the
                Exercise Price per share of Common Stock (as adjusted to the date
                of such
                calculation).

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “Fair
      Market Value”
shall
      mean, as of any date: (i) if shares of the Common Stock are listed on a
      national securities exchange, the average of the closing prices as reported
      for
      composite transactions during the five (5) consecutive trading days preceding
      the trading day immediately prior to such date or, if no sale occurred on a
      trading day, then the mean between the closing bid and asked prices on such
      exchange on such trading day; (ii) if shares of the Common Stock are not so
      listed but are traded on the Nasdaq SmallCap Market (“NSCM”),
      the
      average of the closing prices as reported on the NSCM during the five (5)
      consecutive trading days preceding the trading day immediately prior to such
      date or, if no sale occurred on a trading day, then the mean between the highest
      bid and lowest asked prices as of the close of business on such trading day,
      as
      reported on the NSCM; or if applicable, the Nasdaq National Market
      (“NNM”),
      or if
      not then included for quotation on the NNM or NSCM, the average of the highest
      reported bid and lowest reported asked prices as reported by the OTC Bulletin
      Board or the National Quotations Bureau, as the case may be; or (iii) if
      the shares of the Common Stock are not then publicly traded, the fair market
      price of the Common Stock as determined in good faith by at least a majority
      of
      the Board of Directors of the Company.

     

    2.  Shares
      Fully Paid; Payment of Taxes.
      All
      shares of Common Stock issued upon the exercise of a Warrant shall be validly
      issued, fully paid and non-assessable, and the Company shall pay all taxes
      and
      other governmental charges (other than income taxes to the holder) that may
      be
      imposed in respect of the issue or delivery thereof.

     

    3.  Transfer
      and Exchange.
      This
      Warrant and all rights hereunder are transferable, in whole or in part, on
      the
      books of the Company maintained for such purpose at its office referred to
      above
      by Holder in person or by duly authorized attorney, upon surrender of this
      Warrant together with a completed and executed assignment form in the form
      attached as Exhibit B,
      payment
      of any necessary transfer tax or other governmental charge imposed upon such
      transfer and an opinion of counsel reasonably acceptable to the Company stating
      that such transfer is exempt from the registration requirements of the
      Securities Act of 1933, as amended (the “1933
      Act”).
      Upon
      any partial transfer, the Company will issue and deliver to Holder a new Warrant
      or Warrants with respect to the shares of Common Stock not so transferred.
      Each
      taker and holder of this Warrant, by taking or holding the same, consents and
      agrees that this Warrant when endorsed in blank shall be deemed negotiable
      and
      that when this Warrant shall have been so endorsed, the holder hereof may be
      treated by the Company and all other persons dealing with this Warrant as the
      absolute owner hereof for any purpose and as the person entitled to exercise
      the
      rights represented hereby, or to the transfer hereof on the books of the
      Company, any notice to the contrary notwithstanding; but until such transfer
      on
      such books, the Company may treat the registered Holder hereof as the owner
      for
      all purposes.

     

    This
      Warrant is exchangeable at such office for Warrants for the same aggregate
      number of shares of Common Stock, each new Warrant to represent the right to
      purchase such number of shares as the Holder shall designate at the time of
      such
      exchange.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    4.  Anti-Dilution
      Provisions.
      

     

    A.  Adjustment
      for Dividends in Other Stock and Property Reclassifications.
      In case
      at any time or from time to time the holders of the Common Stock (or any shares
      of stock or other securities at the time receivable upon the exercise of this
      Warrant) shall have received, or, on or after the record date fixed for the
      determination of eligible shareholders, shall have become entitled to receive,
      without payment therefor,

     

    (1)  other
      or
      additional stock or other securities or property (other than cash) by way of
      dividend,

     

    (2)  any
      cash
      or other property paid or payable out of any source other than retained earnings
      (determined in accordance with generally accepted accounting principles),
      or

     

    (3)  other
      or
      additional stock or other securities or property (including cash) by way of
      stock-split, spin-off, reclassification, combination of shares or similar
      corporate rearrangement

     

    (4)  other
      than in the cases of (1), (2) and (3) above, (x) additional shares of Common
      Stock or any other stock or securities into which such Common Stock shall have
      been changed, (y) any other stock or securities convertible into or exchangeable
      for such Common Stock or such other stock or securities or (z) any stock
      purchase rights, issued as a stock dividend or stock-split, adjustments in
      respect of which shall be covered by the terms of Section 4.B,
      Section
      4.C
      or Section
      4.D,
      

     

    then
      and
      in each such case, Holder, upon the exercise hereof as provided in Section 1,
      shall
      be entitled to receive the amount of stock and other securities and property
      (including cash in the cases referred to in clauses (2) and (3) above) which
      such Holder would hold on the date of such exercise if on the Original Issuance
      Date Holder had been the holder of record of the number of shares of Common
      Stock called for on the face of this Warrant, as adjusted in accordance with
      the
      first paragraph of this Warrant, and had thereafter, during the period from
      the
      Original Issuance Date to and including the date of such exercise, retained
      such
      shares and/or all other or additional stock and other securities and property
      (including cash in the cases referred to in clause (2) and (3) above) receivable
      by it as aforesaid during such period, giving effect to all adjustments called
      for during such period by Section 4.A
      and
Section 4.B.

     

    B.  Adjustment
      for Reorganization, Consolidation and Merger.
      In case
      of any reorganization of the Company (or any other corporation the stock or
      other securities of which are at the time receivable on the exercise of this
      Warrant) after the Original Issuance Date, or in case, after such date, the
      Company (or any such other corporation) shall consolidate with or merge into
      another corporation or entity or convey all or substantially all its assets
      to
      another corporation or entity, then and in each such case Holder, upon the
      exercise hereof as provided in Section 1
      at any
      time after the consummation of such reorganization, consolidation, merger or
      conveyance, shall be entitled to receive, in lieu of the stock or other
      securities and property receivable upon the exercise of this Warrant prior
      to
      such consummation, the stock or other securities or property to which such
      Holder would have been entitled upon such consummation if Holder had exercised
      this Warrant immediately prior thereto, all subject to further adjustment as
      provided in Sections 4.A, Section
      4.B, Section
      4.C
      and Section
      4.D 
      in each
      such case, the terms of this Warrant shall be applicable to the shares of stock
      or other securities or property receivable upon the exercise of this Warrant
      after such consummation.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    C.  Adjustment
      for Certain Dividends and Distributions.
      If the
      Company at any time or from time to time makes, or fixes a record date for
      the
      determination of holders of Common Stock entitled to receive, a dividend or
      other distribution payable in additional shares of Common Stock, then and in
      each such event:

     

    (1)  the
      Purchase Price then in effect shall be decreased as of the time of such issuance
      or, in the event such record date is fixed, as of the close of business on
      such
      record date, by multiplying the Purchase Price then in effect by a fraction
      (A) the numerator of which is the total number of shares of Common Stock
      issued and outstanding immediately prior to the time of such issuance or the
      close of business on such record date, and (B) the denominator of which
      shall be the total number of shares of Common Stock issued and outstanding
      immediately prior to the time of such issuance or the close of business on
      such
      record date as the case may be, plus the number of shares of Common Stock
      issuable in payment of such dividend or distribution; provided,
      however,
      that if
      such record date is fixed and such dividend is not fully paid or if such
      distribution is not fully made on the date fixed therefor, the Purchase Price
      shall be recomputed accordingly as of the close of business on such record
      date,
      and thereafter the Purchase Price shall be adjusted pursuant to this
Section 4.C
      as of
      the time of actual payment of such dividends or distributions; and

     

    (2)  the
      number of shares of Common Stock theretofore receivable upon the exercise of
      this Warrant shall be increased, as of the time of such issuance or, in the
      event such record date is fixed, as of the close of business on such record
      date, in inverse proportion to the decrease in the Purchase Price.

     

    D.  Stock
      Split and Reverse Stock Split.
      If the
      Company at any time or from time to time effects a stock split or subdivision
      of
      the outstanding Common Stock, the Purchase Price then in effect immediately
      before that stock split or subdivision shall be proportionately decreased and
      the number of shares of Common Stock theretofore receivable upon the exercise
      of
      this Warrant shall be proportionately increased. If the Company at any time
      or
      from time to time effects a reverse stock split or combines the outstanding
      shares of Common Stock into a smaller number of shares, the Purchase Price
      then
      in effect immediately before that reverse stock split or combination shall
      be
      proportionately increased and the number of shares of Common Stock theretofore
      receivable upon the exercise of this Warrant shall be proportionately decreased.
      Each adjustment under this Section 4.D
      shall
      become effective at the close of business on the date the stock split,
      subdivision, reverse stock split or combination becomes effective.

     

    E.  Certificate
      as to Adjustments.
      Upon
      the occurrence of each adjustment or readjustment of the Conversion Price
      pursuant to this Section 4,
      the
      Company at its expense shall promptly compute such adjustment or readjustment
      in
      accordance with the terms hereof and furnish to each holder of a Warrant a
      certificate setting forth such adjustment or readjustment and showing in detail
      the facts upon which such adjustment or readjustment is based. The Company
      shall, upon the written request at any time of any holder of a Warrant, furnish
      or cause to be furnished to such holder a like certificate setting forth
      (i) such adjustments and readjustments, (ii) Purchase Price at the
      time in effect, and (iii) the number of shares of Common Stock and the
      amount, if any, of other property which at the time would be received upon
      the
      exercise of the Warrant.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    5.  Notices
      of Record Date.
      In
      case:

     

    A.  the
      Company shall take a record of the holders of its Common Stock (or other stock
      or securities at the time receivable upon the exercise of the Warrants) for
      the
      purpose of entitling them to receive any dividend or other distribution, or
      any
      right to subscribe for or purchase any shares of stock of any class or any
      other
      securities, or to receive any other right, or

     

    B.  of
      any
      capital reorganization of the Company, any reclassification of the capital
      stock
      of the Company, any consolidation or merger of the Company with or into another
      corporation, or any conveyance of all or substantially all of the assets of
      the
      Company to another corporation, or

     

    C.  of
      any
      voluntary dissolution, liquidation or winding-up of the Company, then, and
      in
      each such case, the Company will mail or cause to be mailed to each holder
      of a
      Warrant at the time outstanding a notice specifying, as the case may be,
      (a) the date on which a record is to be taken for the purpose of such
      dividend, distribution or right, and stating the amount and character of such
      dividend, distribution or right, or (b) the date on which such
      reorganization, reclassification, consolidation, merger, conveyance,
      dissolution, liquidation or winding-up is expected to take place, and the time,
      if any is to be fixed, as of which the holders of record of Common Stock (or
      such stock or securities at the time receivable upon the exercise of the
      Warrants) shall be entitled to exchange their shares of Common Stock (or such
      other stock or securities) for securities or other property deliverable upon
      such reorganization, reclassification, consolidation, merger, conveyance,
      dissolution, liquidation or winding-up, such notice shall be mailed at least
      ten
      (10) days prior to the date therein specified.

     

    6.  Loss
      or Mutilation.
      Upon
      receipt by the Company of evidence satisfactory to it (in the exercise of
      reasonable discretion) of the ownership of and the loss, theft, destruction
      or
      mutilation of any Warrant and (in the case of loss, theft or destruction) of
      indemnity satisfactory to it (in the exercise of reasonable discretion), and
      (in
      the case of mutilation) upon surrender and cancellation thereof, the Company
      will execute and deliver in lieu thereof a new Warrant of like
      tenor.

     

    7.  Reservation
      of Common Stock.
      The
      Company shall at all times reserve and keep available for issue upon the
      exercise of Warrants such number of its authorized but unissued shares of Common
      Stock as will be sufficient to permit the exercise in full of all outstanding
      Warrants. All of the shares of Common Stock issuable upon the exercise of the
      rights represented by this Warrant will, upon issuance and receipt of the
      Purchase Price therefor, be fully paid and nonassessable, and free from all
      preemptive rights, rights of first refusal or first offer, taxes, liens and
      charges of whatever nature, with respect to the issuance thereof. 

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    8.   Registration
      Rights.
      The
      Holder of this Warrant is entitled to have the shares of Common Stock issuable
      upon exercise of this Warrant registered for resale under the 1933 Act, pursuant
      to and in accordance with the Registration Rights Agreement dated as of the
      date
      hereof by and between the Investors in the Offering, the Holder and the
      Company.

     

    9.  Notices.
      All
      notices and other communications from the Company to the Holder of this Warrant
      shall be mailed by first class, registered or certified mail, postage prepaid,
      to [_______________________________], Attention: [___________________]. All
      notices to the Company shall be sent in the same manner to Telecomm Sales
      Network, Inc., [______________________________], Attention: Stephen Hoelscher,
      Chief Financial Officer. Either the Company or the Holder may change the address
      by notice to the other sent in the manner provided in this Section
      9.

     

    10.  Change;
      Modifications; Waiver.
      No
      terms of this Warrant may be amended, waived or modified except by the express
      written consent of the Company and the Holder.

     

    11.  Headings.
      The
      headings in this Warrant are for purposes of convenience in reference only,
      and
      shall not be deemed to constitute a part hereof.

     

    12.  Governing
      Law, Etc.
      This
      Warrant shall be governed by and construed in accordance with the internal
      laws
      of the State of New York without regard to the conflicts of laws principles
      thereof. 

     

     

    [Signature
      page to follow]

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

     

    IN
      WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by
      its
      duly authorized officer.

     

     

    Dated
      as
      of: January 10, 2006

     

    

    
      	 	 	 
	 	TELECOMM
              SALES NETWORK, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              
Name:
	 	Title:

    

     

    

    AGREED
      TO
      AND ACCEPTED:

    

    

    [PARTICIPATING
      DEALER]

    

    

    

    

    By:
      ________________________________ 

    Name:
      ___________

    Title:
      ___________

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    
 

    EXHIBIT
      A

     

    SUBSCRIPTION
      FORM

     

    (To
      be
      executed only upon exercise of Warrant)

    

     

    The
      undersigned registered owner of this Warrant irrevocably exercises this Warrant
      and purchases _______ of the number of shares of Common Stock of Telecomm Sales
      Network, Inc., purchasable with this Warrant, and herewith makes payment
      therefor, all at the price and on the terms and conditions specified in this
      Warrant.

     

    

    Dated:
      __________________________

     

     

    
      	
              
                

              

              (Signature
                of Registered Owner)

              
 

              
                
                  

                

              

              (Street
                Address)

              
 

              
                
                  

                

              

              (City
                / State / Zip Code)

            

    

    
 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    EXHIBIT
      B

     

    FORM
      OF ASSIGNMENT

     

    

     

    FOR
      VALUE RECEIVED
      the
      undersigned registered owner of this Warrant hereby sells, assigns and transfers
      unto the Assignee named below all of the rights of the undersigned under the
      within Warrant, with respect to the number of shares of Common Stock set forth
      below:

     

    
      	
              Name
                of Assignee

            	
              Address

            	
              Number
                of Shares

            

    

    

     

    and
      does
      hereby irrevocably constitute and appoint __________________________ Attorney
      to
      make such transfer on the books of Telecomm Sales Network, Inc., maintained
      for
      the purpose, with full power of substitution in the premises.

     

    Dated:
      ____________________

     

    
       

      
        	
                
                  

                

                (Signature)

                
 

                
                  
                    

                  

                

                (Witness)

              

      

      

    

     

    

    The
      undersigned Assignee of the Warrant hereby makes to Telecomm Sales Network,
      Inc., as of the date hereof, with respect to the Assignee, all of the
      representations and warranties made by the Holder, and the undersigned Assignee
      agrees to be bound by all the terms and conditions of the Warrant.

    

    

    Dated:
      ____________________

     

    
       

      
        	
                
                  

                

                (Signature)Exhibit
      10.4

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    This
      Registration Rights Agreement (this “Agreement”)
      is
      made and entered into as of January 10, 2006, by and among Telecomm Sales
      Network, Inc. (the “Company”)
      and
      each purchaser named on the signature pages hereto (each a “Purchaser”
and
      collectively, the “Purchasers”).

     

    This
      Agreement is made pursuant to Subscription Agreements dated as of the date
      hereof, by and between the Company and purchasers (a “Purchaser”
and
      collectively, the “Purchasers”)
      of
      4,250,000 shares (the “Shares”)
      of the
      Company’s common stock, par value $0.0001 per share (the “Common
      Stock”),
      in a
      private placement (the “Offering”),
      pursuant to Subscription Agreements (the “Purchase
      Agreement”),
      and
      the Company’s Confidential Private Placement Memorandum, dated November 16, 2005
      (the “PPM”).

     

    The
      Company and the Purchaser hereby agree as follows:

     

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

     

    “Business
      Day”
means
      any day except Saturday, Sunday and any day which shall be a federal legal
      holiday or a day on which banking institutions in the State of New York are
      authorized or required by law or other governmental action to
      close.

     

    “Commission”
means
      the United States Securities and Exchange Commission.

     

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

     

    “Exchange
      Act”
means
      the Securities Exchange Act of 1934, as amended.

     

    “Closing
      Date”
shall
      mean the closing of the Offering.

     

    “Holder”
or
      “Holders”
means
      the holder or holders, as the case may be, from time to time of Registrable
      Securities (including any permitted assignee).

     

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

     

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

     

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

     

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

     

    “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 4,250,000 Shares (ii) the shares of Common Stock issuable upon exercise
      of warrants (the “Warrants”)
      issued
      to any selling agents used by the Company in the Offering, and (iii) any shares
      of Common Stock issued or issuable upon any stock split, dividend or other
      distribution, recapitalization, or anti-dilution adjustment or similar event
      with respect to the foregoing or in connection with any provisions in the
      Warrants.

     

    “Registration
      Statement”
means
      the registration statement required to be filed hereunder (which, at the
      Company's option, may be an existing registration statement of the Company
      previously filed with the Commission, but not declared effective), including
      (in
      each case) the Prospectus, amendments and supplements to the 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 the registration statement.

     

    “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.

     

    “Trading
      Day”
means
      (i) a day on which the Common Stock is traded on a Trading Market, or
      (ii) if the Common Stock is not quoted on a Trading Market, a day on which
      the Common Stock is quoted in the over-the-counter market as reported by the
      National Quotation Bureau Incorporated (or any similar organization or agency
      succeeding to its functions of reporting price); provided, that in the event
      that the Common Stock is not listed or quoted as set forth in (i), and
      (ii) hereof, then Trading Day shall mean a Business Day.

     

    “Trading
      Market”
means
      the following markets or exchanges on which the Common Stock is listed or quoted
      for trading on the date in question: the American Stock Exchange, the New York
      Stock Exchange, the Nasdaq National Market or the Nasdaq SmallCap Market, the
      OTC Bulletin Board or the Pink Sheets.

     

    2.  Registration.

     

    (a)  Mandatory
      Registration.
      The
      Company shall, as promptly as reasonably practicable, but in no event more
      than
      90 days after the date hereof, prepare and file with the Commission the
      Registration Statement covering the resale of all of the Registrable Securities
      for an offering to be made on a continuous basis pursuant to Rule 415. The
      Registration Statement required hereunder shall be on Form S-1, Form SB-2 or
      Form S-3 (except if the Company is not then eligible to register for resale
      the
      Registrable Securities on Form S-1, Form SB-2 or Form S-3, in which case the
      Registration shall be on another appropriate form in accordance herewith).
      The
      Registration Statement required hereunder shall contain the Plan of
      Distribution, attached hereto as Annex
      A
      (which
      may be modified to respond to comments, if any, received by the Commission).
      The
      Company shall use its commercially reasonable efforts to cause the Registration
      Statement to be declared effective under the Securities Act as promptly as
      possible after the filing thereof and shall use its best efforts to keep the
      Registration Statement continuously effective under the Securities Act until
      the
      earlier date when all Registrable Securities (i) have been sold pursuant to
      the
      Registration Statement or an exemption from the registration requirements of
      the
      Securities Act, or (ii) two years from the Closing Date (the “Effectiveness
      Period”).

     

    
      
        
        

      

      
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    (b)  Piggyback
      Registrations Rights.
      If, at
      any time during the Effectiveness Period, there is not an effective Registration
      Statement covering the Registrable Securities (other than the Registrable
      Securities of a Holder that failed to comply with its obligations under
Section
      3(h)
      hereof),
      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 any post-effective amendment to existing registration statements 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 a written notice of such determination
      at
      least twenty (20) days prior to the filing of any such registration statement
      and shall include in such registration statement all Registrable Securities;
      provided,
      however,
      that
      (i) if, at any time after giving written notice of its intention to register
      any
      securities and prior to the effective date of the registration statement filed
      in connection with such registration, the Company determines for any reason
      not
      to proceed with such registration, the Company will be relieved of its
      obligation to register any Registrable Securities in connection with such
      registration, and (ii) in case of a determination by the Company to delay
      registration of its securities, the Company will be permitted to delay the
      registration of Registrable Securities for the same period as the delay in
      registering such other securities.

     

    3.  Registration
      Procedures.
      In
      connection with the Company's registration obligations hereunder, the Company
      shall:

     

    (a)  Not
      less
      than three (3) business days prior to the filing of the Registration Statement
      or any related Prospectus or any amendment or supplement thereto, the Company
      shall furnish to the Holder a draft of the Registration Statement.

     

    (b)  (i)
      Use
      its commercially reasonable efforts to prepare and file with the Commission
      such
      amendments, including post-effective amendments, to the Registration Statement
      and the Prospectus used in connection therewith as may be necessary to keep
      the
      Registration Statement continuously effective as to the applicable Registrable
      Securities for the Effectiveness Period; (ii) cause the related Prospectus
      to be
      amended or supplemented by any required Prospectus supplement, and as so
      supplemented or amended to be filed pursuant to Rule 424; and (iii) respond
      to any comments received from the Commission with respect to the Registration
      Statement or any amendment thereto.

     

    (c)  Notify
      the Holders of Registrable Securities to be sold as promptly as reasonably
      possible: (i)(A) when a Prospectus or any Prospectus supplement or
      post-effective amendment to the Registration Statement is proposed to be filed;
      (B) when the Commission notifies the Company whether there will be a “review” of
      the Registration Statement and whenever the Commission comments in writing
      on
      the Registration Statement (the Company shall upon request provide true and
      complete copies thereof and all written responses thereto to each of the
      Holders, subject, if appropriate, to the execution of confidentiality agreements
      in form acceptable to the Company); and (C) when the Registration Statement
      or
      any post-effective amendment has become effective; (ii) of any request by the
      Commission or any other Federal or state governmental authority during the
      period of effectiveness of the Registration Statement for amendments or
      supplements to the Registration Statement or Prospectus or for additional
      information; (iii) of the issuance by the Commission or any other federal or
      state governmental authority of any stop order suspending the effectiveness
      of
      the Registration Statement covering any or all of the Registrable Securities
      or
      the initiation of any Proceedings for that purpose; (iv) of the receipt by
      the
      Company of any notification with respect to the suspension of the qualification
      or exemption from qualification of any of the Registrable Securities for sale
      in
      any jurisdiction, or the initiation or threatening of any Proceeding for such
      purpose; and (v) of the occurrence of any event or passage of time that makes
      the financial statements included in the Registration Statement ineligible
      for
      inclusion therein or any statement made in the Registration Statement or
      Prospectus or any document incorporated or deemed to be incorporated therein
      by
      reference untrue in any material respect or that requires any revisions to
      the
      Registration Statement, Prospectus or other documents so that, in the case
      of
      the Registration Statement or the Prospectus, as the case may be, it will not
      contain any untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not
      misleading.

     

    
      
        
        

      

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

     

    (e)  Prior
      to
      any resale of Registrable Securities by a Holder, use its commercially
      reasonable efforts to register or qualify or cooperate with the selling Holders
      in connection with the registration or qualification (or exemption from the
      registration or qualification) of such Registrable Securities for the resale
      by
      the Holder under the securities or Blue Sky laws of such jurisdictions within
      the United States as any Holder reasonably requests in writing, to keep such
      registration or qualification (or exemption therefrom) effective during the
      Effectiveness Period and to do such other acts or things reasonably necessary
      to
      enable the disposition in such jurisdictions of the Registrable Securities
      covered by the Registration Statement; provided,
      however,
      that
      the Company shall not be required to qualify generally to do business in any
      jurisdiction where it is not then so qualified, subject the Company to any
      material tax in any such jurisdiction where it is not then so subject or file
      a
      general consent to service of process in any such jurisdiction.

     

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

     

    
      
        
        

      

      
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    (g)  Use
      its
      commercially reasonable efforts to comply with all applicable rules and
      regulations of the Commission relating to the registration of the Registrable
      Securities pursuant to the Registration Statement or otherwise.

     

    (h)  The
      Company shall not be required to include any Holder that does not complete,
      date
      and execute a Selling Shareholder Questionnaire providing the information
      reasonably required by the Company and/or does not reasonably cooperate with
      the
      Company in providing necessary information.

     

    (i)  The
      Company shall use its commercially reasonable efforts to either (a) cause
      all the Registrable Securities covered by a Registration Statement to be listed
      on each securities exchange on which securities of the same class or series
      issued by the Company are then listed, if any, if the listing of such
      Registrable Securities is then permitted under the rules of such exchange,
      or
      (b) either the Nasdaq National Market or the Nasdaq SmallCap Market, or a
      stock exchange, or secure the inclusion for quotation on the OTC Bulletin Board
      for such Registrable Securities and, without limiting the generality of the
      foregoing, to arrange for at least two (2) market makers to register with the
      National Association of Securities Dealers, Inc. (“NASD”)
      as
      such with respect to such Registrable Securities, or, the “Pink Sheets.” The
      Company shall pay all fees and expenses in connection with satisfying its
      obligation under this Section 3(i).

     

    (j)  The
      Company covenants that it shall file the reports required to be filed by it
      under the Securities Act and the Exchange Act and the rules and regulations
      adopted by the Commission thereunder so long as the Holder owns any Registrable
      Securities, but in no event longer than two (2) years from the date of this
      Agreement; provided,
      however,
      the
      Company may delay any such filing but only pursuant to Rule 12b-25 under
      the Exchange Act, and the Company shall take such further reasonable action
      as
      the Holder may reasonably request (including, without limitation, promptly
      obtaining any required legal opinions from Company counsel necessary to effect
      the sale of Registrable Securities under Rule 144 and paying the related
      fees and expenses of such counsel), all to the extent required from time to
      time
      to enable such Holder to sell Registrable Securities without registration under
      the Securities Act within the limitation of the exemptions provided by
      (a) Rule 144 under the Securities Act, as such Rule may be
      amended from time to time, or (b) any similar rule or regulation hereafter
      adopted by the Commission. Such reasonable action shall be taken by the Company
      for a period of no longer than two (2) years from the date of this Agreement.
      

     

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

     

    
      
        
        

      

      
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    5.  Indemnification

     

    (a)  Indemnification
      by the Company.
      The
      Company shall, notwithstanding any termination of this Agreement, indemnify
      and
      hold harmless the Holder, the officers, directors, agents and employees of
      it,
      each Person who controls the Holder (within the meaning of Section 15 of
      the Securities Act or Section 20 of the Exchange Act) and the officers,
      directors, agents and employees of each such controlling Person, to the fullest
      extent permitted by applicable law, from and against any and all losses, claims,
      damages, liabilities, costs (including, without limitation, reasonable
      attorneys' fees) and expenses relating to an Indemnified Party’s actions to
      enforce the provisions of this Section
      5)
      (collectively, “Losses”),
      as
      incurred, to the extent arising out of or relating to any untrue or alleged
      untrue statement of a material fact contained in the Registration Statement,
      any
      Prospectus or any form of prospectus or in any amendment or supplement thereto
      or in any preliminary prospectus, or arising out of or relating to any omission
      or alleged omission of a material fact required to be stated therein or
      necessary to make the statements therein (in the case of any Prospectus or
      form
      of prospectus or supplement thereto, in light of the circumstances under which
      they were made) not misleading, except if (1) such untrue statements or
      omissions are based solely upon information regarding such Holder furnished
      (or
      in the case of an omission, not furnished) to the Company by or on behalf of
      such Holder for use therein, or to the extent that such information relates
      to
      such Holder or such Holder's proposed method of distribution of Registrable
      Securities and was reviewed and expressly approved in writing by such Holder
      expressly for use in the Registration Statement, such Prospectus or such form
      of
      Prospectus or in any amendment or supplement thereto (it being understood that
      the Holder has approved Annex A hereto for this purpose), (2) in the case of
      an
      occurrence of an event of the type specified in Section 3(c)(ii)-(v),
      the use
      by such Holder of an outdated or defective Prospectus after the Company has
      notified such Holder in writing that the Prospectus is outdated or defective
      or
      (3) the failure of the Holder to deliver a prospectus prior to the confirmation
      of a sale. 

     

    (b)  Indemnification
      by Holder.
      The
      Holder shall indemnify and hold harmless the Company, its directors, officers,
      agents and employees, each Person who controls the Company (within the meaning
      of Section 15 of the Securities Act and Section 20 of the Exchange
      Act), and the directors, officers, agents or employees of such controlling
      Persons, to the fullest extent permitted by applicable law, from and against
      all
      Losses, as incurred, to the extent arising out of or based upon: (x) the
      Holder's failure to comply with the prospectus delivery requirements of the
      Securities Act or (y) any untrue or alleged untrue statement of a material
      fact
      contained in any Registration Statement, any Prospectus, or any form of
      prospectus, or in any amendment or supplement thereto or in any preliminary
      prospectus, or arising out of or relating to any omission or alleged omission
      of
      a material fact required to be stated therein or necessary to make the
      statements therein not misleading (i) to the extent, but only to the extent,
      that such untrue statement or omission is contained in any information so
      furnished (or in the case of an omission, not furnished) in writing by or on
      behalf of such Holder to the Company specifically for inclusion in the
      Registration Statement or such Prospectus or (ii) to the extent that (1) such
      untrue statements or omissions are based solely upon information regarding
      such
      Holder furnished (or in the case of an omission, not furnished) in writing
      to
      the Company by or on behalf of such Holder expressly for use therein, or to
      the
      extent that such information relates to such Holder or such Holder's proposed
      method of distribution of Registrable Securities, such Prospectus or such form
      of Prospectus or in any amendment or supplement thereto, or (2) in the case
      of
      an occurrence of an event of the type specified in Section 3(c)(ii)-(v),
      the use
      by such Holder of an outdated or defective Prospectus after the Company has
      notified such Holder in writing that the Prospectus is outdated or defective
      and
      prior to the receipt by such Holder of the Advice contemplated in Section 6(d),
      or (3)
      the failure of the Holder to deliver a Prospectus prior to the confirmation
      of a
      sale. In no event shall the liability of any selling Holder hereunder be greater
      in amount than the dollar amount of the net proceeds received by the Holder
      from
      the offering in connection with such Registration Statement.

     

    
      
        
        

      

      
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    (c)  Conduct
      of Indemnification Proceedings.
      If any
      Proceeding shall be brought or asserted against any Person entitled to indemnity
      hereunder (an “Indemnified
      Party”),
      such
      Indemnified Party shall promptly notify the Person from whom indemnity is sought
      (the “Indemnifying
      Party”)
      in
      writing, and the Indemnifying Party shall have the right to assume the defense
      thereof, including the employment of counsel reasonably satisfactory to the
      Indemnified Party and the payment of all fees and expenses incurred in
      connection with defense thereof; provided,
      that
      the failure of any Indemnified Party to give such notice shall not relieve
      the
      Indemnifying Party of its obligations or liabilities pursuant to this Agreement,
      except (and only) to the extent that such failure shall have materially
      prejudiced the Indemnifying Party.

     

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

     

    All
      reasonable fees and expenses of the Indemnified Party (including reasonable
      fees
      and expenses to the extent incurred in connection with investigating or
      preparing to defend such Proceeding in a manner not inconsistent with this
      Section) shall be paid to the Indemnified Party, as incurred, within ten (10)
      Trading Days of written notice thereof to the Indemnifying Party; provided,
      that
      the Indemnified Party shall promptly reimburse the Indemnifying Party for that
      portion of such fees and expenses applicable to such actions for which such
      Indemnified Party is not entitled to indemnification hereunder, determined
      based
      upon the relative faults of the parties.

     

    
      
        
        

      

      
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    6.  Miscellaneous.

     

    (a)  Compliance.
      The
      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.

     

    (b)  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.

     

    (c)  Notices.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (i) the Trading Day following the date of mailing, if sent
      by
      nationally recognized overnight courier service, or (ii) upon actual receipt
      by
      the party to whom such notice is required to be given. The address for such
      notices and communications shall be delivered and addressed as set forth in
      the
      Purchase Agreement.

     

    (d)  Discontinued
      Disposition.
      Each
      Holder agrees by its acquisition of such Registrable Securities that, upon
      receipt of a notice from the Company of the occurrence of any event of the
      kind
      described in Section 3(c),
      such
      Holder will forthwith discontinue disposition of such Registrable Securities
      under the Registration Statement until such Holder’s receipt of the copies of
      the supplemented Prospectus and/or amended Registration Statement or until
      it is
      advised in writing (the “Advice”)
      by the
      Company that the use of the applicable Prospectus may be resumed, and, in either
      case, has received copies of any additional or supplemental filings that are
      incorporated or deemed to be incorporated by reference in such Prospectus or
      Registration Statement. The Company may provide appropriate stop orders to
      enforce the provisions of this paragraph. Notwithstanding anything to the
      contrary provided herein or elsewhere, this Section
      6(d)
      does not
      directly and/or indirectly relieve the Company of any of its obligations set
      forth in this Agreement or relieve the Company of any liability resulting from
      any breach of this Agreement by it.

     

    (e)  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
      the
      Holder.

     

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

     

    (g)  Governing
      Law.
      This
      Agreement shall be governed by and construed exclusively in accordance with
      the
      internal laws of the State of New York without regard to the conflicts of laws
      principles thereof. The parties hereto hereby irrevocably agree that any suit
      or
      proceeding arising directly and/or indirectly pursuant to or under this
      Agreement, shall be brought solely in a federal or state court located in the
      City, County and State of New York. By its execution hereof, the parties hereby
      covenant and irrevocably submit to the in personam
      jurisdiction of the federal and state courts located in the City, County and
      State of New York and agree that any process in any such action may be served
      upon any of them personally, or by certified mail or registered mail upon them
      or their agent, return receipt requested, with the same full force and effect
      as
      if personally served upon them in New York City. The parties hereto waive any
      claim that any such jurisdiction is not a convenient forum for any such suit
      or
      proceeding and any defense or lack of in
      personam
      jurisdiction with respect thereto. In the event of any such action or
      proceeding, the party prevailing therein shall be entitled to payment from
      the
      other party hereto of its reasonable counsel fees and
      disbursements.

     

    
      
        
        

      

      
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    (h)  Severability.
      If any
      term, provision, covenant or restriction of this Agreement is held by a court
      of
      competent jurisdiction to be invalid, illegal, void or unenforceable, the
      remainder of the terms, provisions, covenants and restrictions set forth herein
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated, and the parties hereto shall use their commercially 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.

     

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

     

    [Remainder
      of page intentionally left blank]

     

    
      
        
        

      

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

     

    
      	 	 	 
	 	TELECOMM
              SALES NETWORK, INC.
	 
 	 
 	 
 
	 	By:  	/s/ 
	 	
              

              Name:
                Steve Hoelscher

              Title:
                Chief Financial Officer

            
	 	 

    

     

    See
      Omnibus Signature Page of Subscription Agreement for Purchasers’
Signatures

     

    
      
        
        

      

      
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    ANNEX
      A

     

    Plan
      of Distribution

    

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

     

    
      	·  	
              ordinary
                brokerage transactions and transactions in which the broker/dealer
                solicits purchasers;

            

    

     

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

            

    

     

    
      	·  	
              purchases
                by a broker/dealer as principal and resale by the broker/dealer for
                its
                account;

            

    

     

    
      	·  	
              an
                exchange distribution in accordance with the Rules of the applicable
                exchange;

            

    

     

    
      	·  	
              privately
                negotiated transactions;

            

    

     

    
      	·  	
              settlement
                of short sales;

            

    

     

    
      	·  	
              broker/dealers
                may agree with the Selling Stockholders to sell a specified number
                of such
                shares at a stipulated price per
                share;

            

    

     

    
      	·  	
              a
                combination of any such methods of sale;
                and

            

    

     

    
      	·  	
              any
                other method permitted pursuant to applicable
                law.

            

    

     

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

     

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

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

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

     

    The
      Company is required to pay certain fees and expenses incident to the
      registration of the shares. The Company has agreed to indemnify the Selling
      Stockholders against certain losses, claims, damages and liabilities, including
      liabilities under the Securities Act.

     

    
      
        
        

      

      
        A-2

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