Document:

Exhibit 10.10

    Exhibit
      10.10

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    REGISTRATION
      RIGHTS AGREEMENT
      (this
“Agreement”),
      dated
      as of June 14, 2006, by and between SEREFEX
      CORPORATION,
      a
      Delaware corporation (the “Company”),
      and
CORNELL
      CAPITAL PARTNERS, LP,
      a
      Delaware limited partnership (the “Investor”).

     

    WHEREAS:

     

    A. In
      connection with the Standby Equity Distribution Agreement by and between the
      parties hereto of even date herewith (the “Standby
      Equity Distribution Agreement”),
      the
      Company has agreed, upon the terms and subject to the conditions of the Standby
      Equity Distribution Agreement, to issue and sell to the Investor that number
      of
      shares of the Company’s common stock, par value $0.0001 per share (the
“Common
      Stock”),
      which
      can be purchased pursuant to the terms of the Standby Equity Distribution
      Agreement for an aggregate purchase price of up to Five Million
      Dollars ($5,000,000). Capitalized terms not defined herein shall have the
      meaning ascribed to them in the Standby Equity Distribution
      Agreement.

     

    B. To
      induce
      the Investor to execute and deliver the Standby Equity Distribution Agreement,
      the Company has agreed to provide certain registration rights under the
      Securities Act of 1933, as amended, and the rules and regulations thereunder,
      or
      any similar successor statute (collectively, the “Securities
      Act”),
      and
      applicable state securities laws.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and the mutual covenants contained herein and
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the Company and the Investor hereby agree as
      follows:

     

    DEFINITIONS.

     

    As
      used
      in this Agreement, the following terms shall have the following
      meanings:

     

    “Person”
means
      a
      corporation, a limited liability company, an association, a partnership, an
      organization, a business, an individual, a governmental or political subdivision
      thereof or a governmental agency.

     

    “Register,”
      “registered,”
and
      “registration”
refer
      to a registration effected by preparing and filing one or more Registration
      Statements (as defined below) in compliance with the Securities Act and pursuant
      to Rule 415 under the Securities Act or any successor rule providing for
      offering securities on a continuous or delayed basis (“Rule
      415”),
      and
      the declaration or ordering of effectiveness of such Registration Statement(s)
      by the United States Securities and Exchange Commission (the “SEC”).

     

    “Registrable
      Securities”
means
      the Investor’s Shares, as defined in the Standby Equity Distribution Agreement,
      and shares of Common Stock issuable to Investors pursuant to the Standby Equity
      Distribution Agreement.

     

    “Registration
      Statement”
means
      a
      registration statement under the Securities Act which covers the Registrable
      Securities.

     

    REGISTRATION.

     

    Mandatory
      Registration.
      The
      Company shall prepare and file with the SEC a Registration Statement on Form
      S-1, SB-2 or on such other form as is available. The Company shall cause such
      Registration Statement to be declared effective by the SEC prior to the first
      sale to the Investor of the Company’s Common Stock pursuant to the Standby
      Equity Distribution Agreement. The Company shall insure that the Registration
      Statement and any subsequent Registration Statements remain in effect until
      all
      of the Registrable Securities have been sold, or may be sold without restriction
      pursuant to Rule 144(k) of the Securities Act. 

     

    
      
         

      

      
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    Sufficient
      Number of Shares Registered.
      In the
      event the number of shares available under a Registration Statement filed
      pursuant to Section 2(a) is insufficient to cover all of the Registrable
      Securities pursuant to the Standby Equity Distribution Agreement, the Company
      shall amend the Registration Statement, or file a new Registration Statement
      (on
      the short form available therefore, if applicable), or both, so as to cover
      all
      of such Registrable Securities pursuant to the Standby Equity Distribution
      Agreement as soon as practicable, but in any event not later than fifteen (15)
      days after the necessity therefore arises. The Company shall use it best efforts
      to cause such amendment and/or new Registration Statement to become effective
      as
      soon as practicable following the filing thereof. For purposes of the foregoing
      provision, the number of shares available under a Registration Statement shall
      be deemed “insufficient to cover all of the Registrable Securities” if at any
      time the number of Registrable Securities issuable on an Advance Notice Date
      is
      greater than the number of shares available for resale under such Registration
      Statement.

     

    RELATED
      OBLIGATIONS.

     

    The
      Company shall keep the Registration Statement effective pursuant to Rule 415
      at
      all times until the completion of the Commitment Period (as such term is defined
      in the Standby Equity Distribution Agreement) (the “Registration
      Period”),
      which
      Registration Statement (including any amendments or supplements thereto and
      prospectuses contained therein) shall not contain any 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 in
      which
      they were made, not misleading.

     

    The
      Company shall prepare and file with the SEC such amendments (including
      post-effective amendments) and supplements to a Registration Statement and
      the
      prospectus used in connection with such Registration Statement, which prospectus
      is to be filed pursuant to Rule 424 promulgated under the Securities Act, as
      may
      be necessary to keep such Registration Statement effective at all times during
      the Registration Period, and, during such period, comply with the provisions
      of
      the Securities Act with respect to the disposition of all Registrable Securities
      of the Company covered by such Registration Statement until such time as all
      of
      such Registrable Securities shall have been disposed of in accordance with
      the
      intended methods of disposition by the seller or sellers thereof as set forth
      in
      such Registration Statement. In the case of amendments and supplements to a
      Registration Statement which are required to be filed pursuant to this Agreement
      (including pursuant to this Section 3(b)) by reason of the Company’s filing a
      report on Form 10-KSB, Form 10-QSB or Form 8-K or any analogous report under
      the
      Securities Exchange Act of 1934, as amended (the “Exchange
      Act”),
      the
      Company shall have incorporated such report by reference into the Registration
      Statement, if applicable, or shall file such amendments or supplements with
      the
      SEC on the same day on which the Exchange Act report is filed which created
      the
      requirement for the Company to amend or supplement the Registration
      Statement.

     

    The
      Company shall furnish to the Investor without charge, (i) at least one copy
      of
      such Registration Statement as declared effective by the SEC and any
      amendment(s) thereto, including financial statements and schedules, all
      documents incorporated therein by reference, all exhibits and each preliminary
      prospectus, (ii) ten (10) copies of the final prospectus included in such
      Registration Statement and all amendments and supplements thereto (or such
      other
      number of copies as such Investor may reasonably request) and (iii) such other
      documents as such Investor may reasonably request from time to time in order
      to
      facilitate the disposition of the Registrable Securities owned by such
      Investor.

     

    The
      Company shall use its best efforts to (i) register and qualify the Registrable
      Securities covered by a Registration Statement under such other securities
      or
“blue sky” laws of such jurisdictions in the United States as the Investor
      reasonably requests, (ii) prepare and file in those jurisdictions, such
      amendments (including post-effective amendments) and supplements to such
      registrations and qualifications as may be necessary to maintain the
      effectiveness thereof during the Registration Period, (iii) take such other
      actions as may be necessary to maintain such registrations and qualifications
      in
      effect at all times during the Registration Period, and (iv) take all other
      actions reasonably necessary or advisable to qualify the Registrable Securities
      for sale in such jurisdictions; provided, however, that the Company shall not
      be
      required in connection therewith or as a condition thereto to (w) make any
      change to its certificate of incorporation or by-laws, (x) qualify to do
      business in any jurisdiction where it would not otherwise be required to qualify
      but for this Section 3(d), (y) subject itself to general taxation in any such
      jurisdiction, or (z) file a general consent to service of process in any such
      jurisdiction. The Company shall promptly notify the Investor of the receipt
      by
      the Company of any notification with respect to the suspension of the
      registration or qualification of any of the Registrable Securities for sale
      under the securities or “blue sky” laws of any jurisdiction in the United States
      or its receipt of actual notice of the initiation or threat of any proceeding
      for such purpose.

     

    
      
         

      

      
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    As
      promptly as practicable after becoming aware of such event or development,
      the
      Company shall notify the Investor in writing of the happening of any event
      as a
      result of which the prospectus included in a Registration Statement, as then
      in
      effect, includes an untrue statement of a material fact or omission 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 (provided that in no event shall such notice contain any material,
      nonpublic information), and promptly prepare a supplement or amendment to such
      Registration Statement to correct such untrue statement or omission, and deliver
      ten (10) copies of such supplement or amendment to each Investor. The Company
      shall also promptly notify the Investor in writing (i) when a prospectus or
      any
      prospectus supplement or post-effective amendment has been filed, and when
      a
      Registration Statement or any post-effective amendment has become effective
      (notification of such effectiveness shall be delivered to the Investor by
      facsimile on the same day of such effectiveness), (ii) of any request by the
      SEC
      for amendments or supplements to a Registration Statement or related prospectus
      or related information, and (iii) of the Company’s reasonable determination
      that a post-effective amendment to a Registration Statement would be
      appropriate. 

     

    The
      Company shall use its best efforts to prevent the issuance of any stop order
      or
      other suspension of effectiveness of a Registration Statement, or the suspension
      of the qualification of any of the Registrable Securities for sale in any
      jurisdiction within the United States of America and, if such an order or
      suspension is issued, to obtain the withdrawal of such order or suspension
      at
      the earliest possible moment and to notify the Investor of the issuance of
      such
      order and the resolution thereof or its receipt of actual notice of the
      initiation or threat of any proceeding for such purpose.

     

    At
      the
      reasonable request of the Investor, the Company shall furnish to the Investor,
      on the date of the effectiveness of the Registration Statement and thereafter
      from time to time on such dates as the Investor may reasonably request (i)
      a
      letter, dated such date, from the Company’s independent certified public
      accountants in form and substance as is customarily given by independent
      certified public accountants to underwriters in an underwritten public offering,
      and (ii) an opinion, dated as of such date, of counsel representing the Company
      for purposes of such Registration Statement, in form, scope and substance as
      is
      customarily given in an underwritten public offering, addressed to the
      Investor.

     

    The
      Company shall make available for inspection by (i) the Investor and (ii) one
      firm of accountants or other agents retained by the Investor (collectively,
      the
“Inspectors”) all pertinent financial and other records, and pertinent corporate
      documents and properties of the Company (collectively, the “Records”), as shall
      be reasonably necessary to enable them to exercise their due diligence
      responsibility, and cause the Company’s officers, directors and employees to
      supply all information which any Inspector may reasonably request in connection
      with the Registration Statement. The Investor agrees that Records obtained
      by it
      as a result of such inspections which is conspicuously marked by the Company
      as
      "Confidential" (subject to the Company’s obligations with respect to material
      non-public information set forth in Section 8.1(a) herein) shall be deemed
      confidential and held in strict confidence by the Investor, unless (a) the
      disclosure of such Records is necessary to avoid or correct a misstatement
      or
      omission in any Registration Statement or is otherwise required under the
      Securities Act, (b) the release of such Records is ordered pursuant to a final,
      non-appealable subpoena or order from a court or government body of competent
      jurisdiction, or (c) the information in such Records has been made generally
      available to the public other than by disclosure in violation of this or any
      other agreement of which the Inspector and the Investor has knowledge. The
      Investor agrees that it shall, upon learning that disclosure of such Records
      is
      sought in or by a court or governmental body of competent jurisdiction or
      through other means, give prompt notice to the Company and allow the Company,
      at
      its expense, to undertake appropriate action to prevent disclosure of, or to
      obtain a protective order for, the Records deemed confidential.

     

    The
      Company shall hold in confidence and not make any disclosure of information
      concerning the Investor provided to the Company unless (i) disclosure of such
      information is necessary to comply with federal or state securities laws, (ii)
      the disclosure of such information is necessary to avoid or correct a
      misstatement or omission in any Registration Statement, (iii) the release of
      such information is ordered pursuant to a subpoena or other final,
      non-appealable order from a court or governmental body of competent
      jurisdiction, or (iv) such information has been made generally available to
      the
      public other than by disclosure in violation of this Agreement or any other
      agreement. The Company agrees that it shall, upon learning that disclosure
      of
      such information concerning the Investor is sought in or by a court or
      governmental body of competent jurisdiction or through other means, give prompt
      written notice to the Investor and allow the Investor, at the Investor’s
      expense, to undertake appropriate action to prevent disclosure of, or to obtain
      a protective order for, such information.

     

    
      
         

      

      
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    The
      Company shall use its best efforts either to cause all the Registrable
      Securities covered by a Registration Statement (i) 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 to secure
      the
      inclusion for quotation on the National Association of Securities Dealers,
      Inc.
      OTC Bulletin Board for such Registrable Securities. The Company shall pay all
      fees and expenses in connection with satisfying its obligation under this
      Section 3(j).

     

    The
      Company shall cooperate with the Investor to the extent applicable, to
      facilitate the timely preparation and delivery of certificates (not bearing
      any
      restrictive legend) representing the Registrable Securities to be offered
      pursuant to a Registration Statement and enable such certificates to be in
      such
      denominations or amounts, as the case may be, as the Investor may reasonably
      request and registered in such names as the Investor may request.

     

    The
      Company shall use its best efforts to cause the Registrable Securities covered
      by the applicable Registration Statement to be registered with or approved
      by
      such other governmental agencies or authorities as may be necessary to
      consummate the disposition of such Registrable Securities.

     

    The
      Company shall make generally available to its security holders as soon as
      practical, but not later than ninety (90) days after the close of the period
      covered thereby, an earnings statement (in form complying with the provisions
      of
      Rule 158 under the Securities Act) covering a twelve-month period beginning
      not
      later than the first day of the Company’s fiscal quarter next following the
      effective date of the Registration Statement.

     

    The
      Company shall otherwise use its best efforts to comply with all applicable
      rules
      and regulations of the SEC in connection with any registration
      hereunder.

     

    Within
      two (2) business days after a Registration Statement which covers Registrable
      Securities is ordered effective by the SEC, the Company shall deliver, and
      shall
      cause legal counsel for the Company to deliver, to the transfer agent for such
      Registrable Securities (with copies to the Investor) confirmation that such
      Registration Statement has been declared effective by the SEC in the form
      attached hereto as Exhibit
      A.

     

    The
      Company shall take all other reasonable actions necessary to expedite and
      facilitate disposition by the Investor of Registrable Securities pursuant to
      a
      Registration Statement.

     

    OBLIGATIONS
      OF THE INVESTOR.

     

    The
      Investor agrees that, upon receipt of any notice from the Company of the
      happening of any event of the kind described in Section 3(f) or the first
      sentence of 3(e), the Investor will immediately discontinue disposition of
      Registrable Securities pursuant to any Registration Statement(s) covering such
      Registrable Securities until the Investor’s receipt of the copies of the
      supplemented or amended prospectus contemplated by Section 3(e) or receipt
      of
      notice that no supplement or amendment is required. Notwithstanding anything
      to
      the contrary, the Company shall cause its transfer agent to deliver unlegended
      certificates for shares of Common Stock to a transferee of the Investor in
      accordance with the terms of the Standby Equity Distribution Agreement in
      connection with any sale of Registrable Securities with respect to which the
      Investor has entered into a contract for sale prior to the Investor’s receipt of
      a notice from the Company of the happening of any event of the kind described
      in
      Section 3(f) or the first sentence of 3(e) and for which the Investor has not
      yet settled.

     

    EXPENSES
      OF REGISTRATION.

     

    All
      expenses incurred in connection with registrations, filings or qualifications
      pursuant to Sections 2 and 3, including, without limitation, all registration,
      listing and qualifications fees, printers, legal and accounting fees shall
      be
      paid by the Company. 

     

    
      
         

      

      
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    INDEMNIFICATION.

     

    

    With
      respect to Registrable Securities which are included in a Registration Statement
      under this Agreement:

     

    To
      the
      fullest extent permitted by law, the Company will, and hereby does, indemnify,
      hold harmless and defend the Investor, the directors, officers, partners,
      employees, agents, representatives of, and each Person, if any, who controls
      the
      Investor within the meaning of the Securities Act or the Exchange Act (each,
      an
“Indemnified
      Person”),
      against any losses, claims, damages, liabilities, judgments, fines, penalties,
      charges, costs, reasonable attorneys’ fees, amounts paid in settlement or
      expenses, joint or several (collectively, “Claims”)
      incurred in investigating, preparing or defending any action, claim, suit,
      inquiry, proceeding, investigation or appeal taken from the foregoing by or
      before any court or governmental, administrative or other regulatory agency,
      body or the SEC, whether pending or threatened, whether or not an indemnified
      party is or may be a party thereto (“Indemnified
      Damages”),
      to
      which any of them may become subject insofar as such Claims (or actions or
      proceedings, whether commenced or threatened, in respect thereof) arise out
      of
      or are based upon: (i) any untrue statement or alleged untrue statement of
      a
      material fact in a Registration Statement or any post-effective amendment
      thereto or in any filing made in connection with the qualification of the
      offering under the securities or other “blue sky” laws of any jurisdiction in
      which Registrable Securities are offered (“Blue
      Sky Filing”),
      or
      the omission or alleged omission to state a material fact required to be stated
      therein or necessary to make the statements therein not misleading;
      (ii) any untrue statement or alleged untrue statement of a material fact
      contained in any final prospectus (as amended or supplemented, if the Company
      files any amendment thereof or supplement thereto with the SEC) or the omission
      or alleged omission to state therein any material fact necessary to make the
      statements made therein, in light of the circumstances under which the
      statements therein were made, not misleading; or (iii) any violation or alleged
      violation by the Company of the Securities Act, the Exchange Act, any other
      law,
      including, without limitation, any state securities law, or any rule or
      regulation there under relating to the offer or sale of the Registrable
      Securities pursuant to a Registration Statement (the matters in the foregoing
      clauses (i) through (iii) being, collectively, “Violations”).
      The
      Company shall reimburse the Investor and each such controlling person promptly
      as such expenses are incurred and are due and payable, for any legal fees or
      disbursements or other reasonable expenses incurred by them in connection with
      investigating or defending any such Claim. Notwithstanding anything to the
      contrary contained herein, the indemnification agreement contained in this
      Section 6(a): (x) shall not apply to a Claim by an Indemnified Person arising
      out of or based upon a Violation which occurs in reliance upon and in conformity
      with information furnished in writing to the Company by such Indemnified Person
      expressly for use in connection with the preparation of the Registration
      Statement or any such amendment thereof or supplement thereto; (y) shall not
      be
      available to the extent such Claim is based on a failure of the Investor to
      deliver or to cause to be delivered the prospectus made available by the
      Company, if such prospectus was timely made available by the Company pursuant
      to
      Section 3(e); and (z) shall not apply to amounts paid in settlement of any
      Claim
      if such settlement is effected without the prior written consent of the Company,
      which consent shall not be unreasonably withheld. Such indemnity shall remain
      in
      full force and effect regardless of any investigation made by or on behalf
      of
      the Indemnified Person.

     

    In
      connection with a Registration Statement, the Investor agrees to indemnify,
      hold
      harmless and defend, to the same extent and in the same manner as is set forth
      in Section 6(a), the Company, the directors, officers, partners, employees,
      agents, representatives of, and each Person, if any, who controls the Company
      within the meaning of the Securities Act or the Exchange Act (each an
“Indemnified
      Party”),
      against any Claim or Indemnified Damages to which any of them may become
      subject, under the Securities Act, the Exchange Act or otherwise, insofar as
      such Claim or Indemnified Damages arise out of or is based upon any Violation,
      in each case to the extent, and only to the extent, that such Violation occurs
      in reliance upon and in conformity with written information furnished to the
      Company by the Investor expressly for use in connection with such Registration
      Statement; and, subject to Section 6(d), the Investor will reimburse any legal
      or other expenses reasonably incurred by them in connection with investigating
      or defending any such Claim; provided, however, that the indemnity agreement
      contained in this Section 6(b) and the agreement with respect to contribution
      contained in Section 7 shall not apply to amounts paid in settlement of any
      Claim if such settlement is effected without the prior written consent of the
      Investor, which consent shall not be unreasonably withheld. Such indemnity
      shall
      remain in full force and effect regardless of any investigation made by or
      on
      behalf of such Indemnified Party. Notwithstanding anything to the contrary
      contained herein, the indemnification agreement contained in this Section 6(b)
      with respect to any prospectus shall not inure to the benefit of any Indemnified
      Party if the untrue statement or omission of material fact contained in the
      prospectus was corrected and such new prospectus was delivered to the Investor
      prior to the Investor’s use of the prospectus to which the Claim
      relates.

     

    
      
         

      

      
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    Promptly
      after receipt by an Indemnified Person or Indemnified Party under this Section
      6
      of notice of the commencement of any action or proceeding (including any
      governmental action or proceeding) involving a Claim, such Indemnified Person
      or
      Indemnified Party shall, if a Claim in respect thereof is to be made against
      any
      indemnifying party under this Section 6, deliver to the indemnifying party
      a
      written notice of the commencement thereof, and the indemnifying party shall
      have the right to participate in, and, to the extent the indemnifying party
      so
      desires, jointly with any other indemnifying party similarly noticed, to assume
      control of the defense thereof with counsel mutually satisfactory to the
      indemnifying party and the Indemnified Person or the Indemnified Party, as
      the
      case may be; provided, however, that an Indemnified Person or Indemnified Party
      shall have the right to retain its own counsel with the fees and expenses of
      not
      more than one counsel for such Indemnified Person or Indemnified Party to be
      paid by the indemnifying party, if, in the reasonable opinion of counsel
      retained by the indemnifying party, the representation by such counsel of the
      Indemnified Person or Indemnified Party and the indemnifying party would be
      inappropriate due to actual or potential differing interests between such
      Indemnified Person or Indemnified Party and any other party represented by
      such
      counsel in such proceeding. The Indemnified Party or Indemnified Person shall
      cooperate fully with the indemnifying party in connection with any negotiation
      or defense of any such action or claim by the indemnifying party and shall
      furnish to the indemnifying party all information reasonably available to the
      Indemnified Party or Indemnified Person which relates to such action or claim.
      The indemnifying party shall keep the Indemnified Party or Indemnified Person
      fully apprised at all times as to the status of the defense or any settlement
      negotiations with respect thereto. No indemnifying party shall be liable for
      any
      settlement of any action, claim or proceeding effected without its prior written
      consent, provided, however, that the indemnifying party shall not unreasonably
      withhold, delay or condition its consent. No indemnifying party shall, without
      the prior written consent of the Indemnified Party or Indemnified Person,
      consent to entry of any judgment or enter into any settlement or other
      compromise which does not include as an unconditional term thereof the giving
      by
      the claimant or plaintiff to such Indemnified Party or Indemnified Person of
      a
      release from all liability in respect to such claim or litigation. Following
      indemnification as provided for hereunder, the indemnifying party shall be
      subrogated to all rights of the Indemnified Party or Indemnified Person with
      respect to all third parties, firms or corporations relating to the matter
      for
      which indemnification has been made. The failure to deliver written notice
      to
      the indemnifying party within a reasonable time of the commencement of any
      such
      action shall not relieve such indemnifying party of any liability to the
      Indemnified Person or Indemnified Party under this Section 6, except to the
      extent that the indemnifying party is prejudiced in its ability to defend such
      action.

     

    The
      indemnification required by this Section 6 shall be made by periodic payments
      of
      the amount thereof during the course of the investigation or defense, as and
      when bills are received or Indemnified Damages are incurred.

     

    The
      indemnity agreements contained herein shall be in addition to (i) any cause
      of
      action or similar right of the Indemnified Party or Indemnified Person against
      the indemnifying party or others, and (ii) any liabilities the indemnifying
      party may be subject to pursuant to the law.

     

    CONTRIBUTION.

     

    To
      the
      extent any indemnification by an indemnifying party is prohibited or limited
      by
      law, the indemnifying party agrees to make the maximum contribution with respect
      to any amounts for which it would otherwise be liable under Section 6 to the
      fullest extent permitted by law; provided, however, that: (i) no seller of
      Registrable Securities guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the Securities Act) shall be entitled to
      contribution from any seller of Registrable Securities who was not guilty of
      fraudulent misrepresentation; and (ii) contribution by any seller of Registrable
      Securities shall be limited in amount to the net amount of proceeds received
      by
      such seller from the sale of such Registrable Securities.

     

    REPORTS
      UNDER THE EXCHANGE ACT.

    

    With
      a
      view to making available to the Investor the benefits of Rule 144 promulgated
      under the Securities Act or any similar rule or regulation of the SEC that
      may
      at any time permit the Investors to sell securities of the Company to the public
      without registration (“Rule
      144”)
      the
      Company agrees to:make and keep public information available, as those terms
      are
      understood and defined in Rule 144; file with the SEC in a timely manner all
      reports and other documents required of the Company under the Securities Act
      and
      the Exchange Act so long as the Company remains subject to such requirements
      (it
      being understood that nothing herein shall limit the Company’s obligations under
      Section 6.3 of the Standby Equity Distribution Agreement) and the filing of
      such
      reports and other documents is required for the applicable provisions of Rule
      144; and furnish to the Investor so long as the Investor owns Registrable
      Securities, promptly upon request, (i) a written statement by the Company that
      it has complied with the reporting requirements of Rule 144, the Securities
      Act
      and the Exchange Act, (ii) a copy of the most recent annual or quarterly report
      of the Company and such other reports and documents so filed by the Company,
      and
      (iii) such other information as may be reasonably requested to permit the
      Investor to sell such securities pursuant to Rule 144 without
      registration.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    AMENDMENT
      OF REGISTRATION RIGHTS.

    

    Provisions
      of this Agreement may be amended and the observance thereof may be waived
      (either generally or in a particular instance and either retroactively or
      prospectively), only by a written agreement between the Company and the
      Investor. Any amendment or waiver effected in accordance with this Section
      9
      shall be binding upon the Investor and the Company. No consideration shall
      be
      offered or paid to any Person to amend or consent to a waiver or modification
      of
      any provision of any of this Agreement unless the same consideration also is
      offered to all of the parties to this Agreement.

     

    MISCELLANEOUS.

    

    A
      Person
      is deemed to be a holder of Registrable Securities whenever such Person owns
      or
      is deemed to own of record such Registrable Securities. If the Company receives
      conflicting instructions, notices or elections from two or more Persons with
      respect to the same Registrable Securities, the Company shall act upon the
      basis
      of instructions, notice or election received from the registered owner of such
      Registrable Securities.

     

    Any
      notices, consents, waivers or other communications required or permitted to
      be
      given under the terms of this Agreement must be in writing and will be deemed
      to
      have been delivered: (i) upon receipt, when delivered personally; (ii) upon
      receipt, when sent by facsimile (provided confirmation of transmission is
      mechanically or electronically generated and kept on file by the sending party);
      or (iii) one business day after deposit with a nationally recognized overnight
      delivery service, in each case properly addressed to the party to receive the
      same. The addresses and facsimile numbers for such communications shall
      be:

     

    
      	
              If
                to the Company, to:

            	
              Serefex
                Corporation

            
	 	
              4328
                Corporate Square Boulevard, Suite C

            
	 	
              Naples,
                Florida 34104

            
	 	
              Attention: Brian
                S. Dunn

            
	 	
              Telephone: (239)
                262-1610

            
	 	
              Facsimile: (239)
                262-1642

            
	 	 
	
              With
                a copy to:

            	
              Williams,
                Schifino, Mangioni and Steady P.A.

            
	 	
              One
                Tampa City Center, Suite 250

            
	 	
              Tampa,
                Florida 33602

            
	 	
              Attention:
                William Schifino

            
	 	
              Telephone: (813)
                221-2626

            
	 	
              Facsimile: (813)
                221-7335

            
	 	 
	
              If
                to the Investor, to:

            	
              Cornell
                Capital Partners, LP

            
	 	
              101
                Hudson Street - Suite 3700

            
	 	
              Jersey
                City, New Jersey 07302

            
	 	
              Attention: Mark
                Angelo

            
	 	
              Portfolio
                Manager

            
	 	
              Telephone: (201)
                985-8300

            
	 	
              Facsimile: (201)
                985-8266

            
	 	 
	
              With
                a copy to:

            	
              Cornell
                Capital Partners, LP

            
	 	
              101
                Hudson Street - Suite 3700

            
	 	
              Jersey
                City, NJ 07302

            
	 	
              Attention: David
                Gonzalez, Esq.

            
	 	
              Telephone: (201)
                985-8300

            
	 	
              Facsimile: (201)
                985-8266

            
	 	 

    

     

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    Any
      party
      may change its address by providing written notice to the other parties hereto
      at least five days prior to the effectiveness of such change. Written
      confirmation of receipt (A) given by the recipient of such notice, consent,
      waiver or other communication, (B) mechanically or electronically generated
      by
      the sender’s facsimile machine containing the time, date, recipient facsimile
      number and an image of the first page of such transmission or (C) provided
      by a
      courier or overnight courier service shall be rebuttable evidence of personal
      service, receipt by facsimile or receipt from a nationally recognized overnight
      delivery service in accordance with clause (i), (ii) or (iii) above,
      respectively.

     

    Failure
      of any party to exercise any right or remedy under this Agreement or otherwise,
      or delay by a party in exercising such right or remedy, shall not operate as
      a
      waiver thereof.

     

    The
      corporate laws of the State of New Jersey shall govern all issues concerning
      the
      relative rights of the Company and the Investor. All other questions concerning
      the construction, validity, enforcement and interpretation of this Agreement
      shall be governed by the internal laws of the State of New Jersey, without
      giving effect to any choice of law or conflict of law provision or rule (whether
      of the State of New Jersey or any other jurisdiction) that would cause the
      application of the laws of any jurisdiction other than the State of New Jersey.
      Each party hereby irrevocably submits to the non-exclusive jurisdiction of
      the
      Superior Courts of the State of New Jersey, sitting in Hudson County, New Jersey
      and the Federal District Court for the District of New Jersey sitting in Newark,
      New Jersey, for the adjudication of any dispute hereunder or in connection
      herewith or with any transaction contemplated hereby or discussed herein, and
      hereby irrevocably waives, and agrees not to assert in any suit, action or
      proceeding, any claim that it is not personally subject to the jurisdiction
      of
      any such court, that such suit, action or proceeding is brought in an
      inconvenient forum or that the venue of such suit, action or proceeding is
      improper. Each party hereby irrevocably waives personal service of process
      and
      consents to process being served in any such suit, action or proceeding by
      mailing a copy thereof to such party at the address for such notices to it
      under
      this Agreement and agrees that such service shall constitute good and sufficient
      service of process and notice thereof. Nothing contained herein shall be deemed
      to limit in any way any right to serve process in any manner permitted by law.
      If any provision of this Agreement shall be invalid or unenforceable in any
      jurisdiction, such invalidity or unenforceability shall not affect the validity
      or enforceability of the remainder of this Agreement in that jurisdiction or
      the
      validity or enforceability of any provision of this Agreement in any other
      jurisdiction. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND
      AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
      HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY
      TRANSACTION CONTEMPLATED HEREBY.

     

    This
      Agreement, the Standby Equity Distribution Agreement, the Escrow Agreement,
      and
      the Placement Agent Agreement constitute the entire agreement among the parties
      hereto with respect to the subject matter hereof and thereof. There are no
      restrictions, promises, warranties or undertakings, other than those set forth
      or referred to herein and therein. This Agreement, the Standby Equity
      Distribution Agreement, the Escrow Agreement, and the Placement Agent Agreement
      supersede all prior agreements and understandings among the parties hereto
      with
      respect to the subject matter hereof and thereof.

     

    This
      Agreement shall inure to the benefit of and be binding upon the permitted
      successors and assigns of each of the parties hereto.

     

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

     

    This
      Agreement may be executed in identical counterparts, each of which shall be
      deemed an original but all of which shall constitute one and the same agreement.
      This Agreement, once executed by a party, may be delivered to the other party
      hereto by facsimile transmission of a copy of this Agreement bearing the
      signature of the party so delivering this Agreement.

     

    Each
      party shall do and perform, or cause to be done and performed, all such further
      acts and things, and shall execute and deliver all such other agreements,
      certificates, instruments and documents, as the other party may reasonably
      request in order to carry out the intent and accomplish the purposes of this
      Agreement and the consummation of the transactions contemplated
      hereby.

     

    The
      language used in this Agreement will be deemed to be the language chosen by
      the
      parties to express their mutual intent and no rules of strict construction
      will
      be applied against any party.

     

    This
      Agreement is intended for the benefit of the parties hereto and their respective
      permitted successors and assigns, and is not for the benefit of, nor may any
      provision hereof be enforced by, any other Person.

     

     

     

                                                   
      [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

     

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

       

    

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

     

    
      	 	
              Serefex
                Corporation

            
	 	 
	 	
              By:      

            
	 	
              Name: Brian
                Dunn

            
	 	
              Title: Chief
                Executive Officer

            
	 	 
	 	 
	 	
              Cornell
                Capital Partners, LP

            
	 	 
	 	
              By: Yorkville
                Advisors, LLC

            
	 	
              Its: General
                Partner

            
	 	 
	 	
              By:      

            
	 	
              Name: Mark
                Angelo

            
	 	
              Title: Portfolio
                Manager

            
	 	 

    

    
 

    
      
         

      

      
        9

        
          

        

      

      
         

      

       

    

    EXHIBIT
      A

     

    FORM
      OF NOTICE OF EFFECTIVENESS

     

    OF
      REGISTRATION STATEMENT

     

    

    

    Attention: 

    

    Re: SEREFEX
      CORPORATION

    

    Ladies
      and Gentlemen:

    

    We
      are
      counsel to Serefex Corporation (the “Company”),
      and
      have represented the Company in connection with that certain Standby Equity
      Distribution Agreement (the “Standby
      Equity Distribution Agreement”)
      entered into by and between the Company and Cornell Capital Partners, LP (the
      “Investor”)
      pursuant to which the Company issued to the Investor shares of its Common Stock,
      par value $0.0001 per share (the “Common
      Stock”).
      Pursuant to the Standby Equity Distribution Agreement, the Company also has
      entered into a Registration Rights Agreement with the Investor (the
“Registration
      Rights Agreement”)
      pursuant to which the Company agreed, among other things, to register the
      Registrable Securities (as defined in the Registration Rights Agreement) under
      the Securities Act of 1933, as amended (the “Securities
      Act”).
      In
      connection with the Company’s obligations under the Registration Rights
      Agreement, on ____________ ____, the Company filed a Registration Statement
      on
      Form ________ (File No. 333-_____________) (the “Registration
      Statement”)
      with
      the Securities and Exchange Commission (the “SEC”)
      relating to the Registrable Securities which names the Investor as a selling
      stockholder thereunder.

     

    In
      connection with the foregoing, we advise you that a member of the SEC’s staff
      has advised us by telephone that the SEC has entered an order declaring the
      Registration Statement effective under the Securities Act at [ENTER
      TIME OF EFFECTIVENESS]
      on
[ENTER
      DATE OF EFFECTIVENESS]
      and we
      have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that
      any stop order suspending its effectiveness has been issued or that any
      proceedings for that purpose are pending before, or threatened by, the SEC
      and
      the Registrable Securities are available for resale under the Securities Act
      pursuant to the Registration Statement.

     

    Very
      truly yours,

    

    

    

    By:_____________________________     

    

    cc: Cornell
      Capital Partners, LP

     

    

    
      
         

      

      
        10Exhibit 10.11

    Exhibit
      10.11

    

    SEREFEX
      CORPORATION 

    PLACEMENT
      AGENT AGREEMENT

    

    

    Dated
      as
      of: June
      14,
      2006

    

    Newbridge
      Securities Corporation

    1451
      Cypress Creek Road, Suite 204

    Fort
      Lauderdale, Florida 33309

    

    

    Ladies
      and Gentlemen:

    

    The
      undersigned, Serefex Corporation, a Delaware corporation (the “Company”),
      hereby agrees with
      Newbridge Securities Corporation (the “Placement
      Agent”)
      as
      follows:

     

    Offering.
      The
      Company hereby engages the Placement Agent to act as its exclusive placement
      agent in connection with the Standby Equity Distribution Agreement dated the
      date hereof between the Company and Cornell Capital Partners, LP (the
“Investor”)
      (the
“Standby
      Equity Distribution Agreement”),
      pursuant to which the Company shall issue and sell to the Investor, from time
      to
      time, and the Investor shall purchase from the Company (the “Offering”)
      up to
      Five Million Dollars ($5,000,000) (the “Commitment
      Amount”)
      of the
      Company’s common stock, par value $0.001 per share (the “Common
      Stock”),
      at
      price per share equal to the Purchase Price, as that term is defined in the
      Standby Equity Distribution Agreement. The
      Placement Agent services
      shall
      consist of reviewing
      the
terms
      of
the
      Standby Equity Distribution Agreement and advising
      the
      Company with
      respect to those
      terms.

     

    All
      capitalized terms used herein and not otherwise defined herein shall have the
      same meaning ascribed to them as in the Standby Equity Distribution Agreement.
      The Investor will be granted certain registration rights with respect to the
      Common Stock as more fully set forth in the Registration Rights Agreement
      between the Company and the Investor dated the date hereof (the “Registration
      Rights Agreement”).
      The
      documents to be executed and delivered in connection with the Offering,
      including, but not limited, to the
      Company’s latest Annual Report on Form 10-KSB as filed with the United States
      Securities and Exchange Commission, this
      Agreement, the Standby Equity Distribution Agreement, and the Registration
      Rights Agreement are referred to sometimes hereinafter collectively as the
      “Offering
      Materials.”
The
      Company’s Common Stock
      purchased by the Investor under
      the
      Standby Equity Distribution Agreement is sometimes referred to hereinafter
      as
      the “Securities.”
The
      Placement Agent shall not be obligated to sell any Securities.

     

    Compensation.

     

    Upon
      the
      execution of this Agreement, the Company shall issue to the Placement Agent
      or
      its designee 111,111 shares of the Company’s Common Stock (an amount equal to
      Ten Thousand Dollars ($10,000) worth of the Common Stock) (the “Placement
      Agent’s Shares”).
      The
      Placement Agent shall be entitled to “piggy-back” registration rights with
      respect to the Placement Agent’s Shares, which shall be triggered upon
      registration of any shares of Common Stock by the Company pursuant to the
      Registration Rights Agreement dated the date hereof. 

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    Representations,
      Warranties and Covenants of the Placement Agent.

     

    The
      Placement Agent represents, warrants and covenants as follows:

     

    The
      Placement Agent has the necessary power to enter into this Agreement and to
      consummate the transactions contemplated hereby.

     

    The
      execution and delivery by the Placement Agent of this Agreement and the
      consummation of the transactions contemplated herein will not result in any
      violation of, or be in conflict with, or constitute a default under, any
      agreement or instrument to which the Placement Agent is a party or by which
      the
      Placement Agent or its properties are bound, or any judgment, decree, order
      or,
      to the Placement Agent’s knowledge, any statute, rule or regulation applicable
      to the Placement Agent. This Agreement when executed and delivered by the
      Placement Agent, will constitute the legal, valid and binding obligations of
      the
      Placement Agent, enforceable in accordance with their respective terms, except
      to the extent that (a) the enforceability hereof or thereof may be limited
      by
      bankruptcy, insolvency, reorganization, moratorium or similar laws from time
      to
      time in effect and affecting the rights of creditors generally, (b) the
      enforceability hereof or thereof is subject to general principles of equity,
      or
      (c) the indemnification provisions hereof or thereof may be held to be in
      violation of public policy.

     

    Upon
      receipt and execution of this Agreement, the Placement Agent will promptly
      forward copies of this Agreement to the Company or its counsel and the Investor
      or its counsel.

     

    The
      Placement Agent will not intentionally take any action that it reasonably
      believes would cause the Offering to violate the provisions of the Securities
      Act of 1933, as amended (the “1933
      Act”),
      the
      Securities Exchange Act of 1934 (the “1934
      Act”),
      the
      respective rules and regulations promulgated thereunder
      (the
“Rules
      and Regulations”)
      or
      applicable “Blue Sky” laws of any state or jurisdiction.

     

    The
      Placement Agent is a member of the National Association of Securities Dealers,
      Inc., and is a broker-dealer registered as such under the 1934 Act and under
      the
      securities laws of the states in which the Securities will be offered or sold
      by
      the Placement Agent unless an exemption for such state registration is available
      to the Placement Agent. The Placement Agent is in material
      compliance
      with the
      rules
      and regulations applicable to the Placement Agent generally and applicable
      to
      the Placement Agent’s participation in the Offering.

     

    Representations
      and Warranties of the Company.

     

    The
      Company represents and warrants as follows:

     

    The
      execution, delivery and performance of each of this Agreement, the Standby
      Equity Distribution Agreement, and the Registration Rights Agreement has been
      or
      will be duly and validly authorized by the Company and is, or with respect
      to
      this Agreement, the Standby Equity Distribution Agreement, and the Registration
      Rights Agreement will be, a valid and binding agreement of the Company,
      enforceable in accordance with its respective terms, except to the extent that
      (a) the enforceability hereof or thereof may be limited by bankruptcy,
      insolvency, reorganization, moratorium or similar laws from time to time in
      effect and affecting the rights of creditors generally, (b) the enforceability
      hereof or thereof is subject to general principles of equity or (c) the
      indemnification provisions hereof or thereof may be held to be in violation
      of
      public policy. The Securities to be issued pursuant to the transactions
      contemplated by this Agreement and the Standby Equity Distribution Agreement
      have been duly authorized and, when issued and paid for in accordance with
      this
      Agreement and the Standby Equity Distribution Agreement will be valid and
      binding obligations of the Company, enforceable in accordance with their
      respective terms, except to the extent that (1) the enforceability thereof
      may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
      laws from time to time in effect and affecting the rights of creditors
      generally, and (2) the enforceability thereof is subject to general principles
      of equity. All corporate action required to be taken for the authorization,
      issuance and sale of the Securities has been duly and validly taken by the
      Company.

     

    The
      Company has a duly authorized, issued and outstanding capitalization as set
      forth herein and in the Standby Equity Distribution Agreement. The Company
      is
      not a party to or bound by any instrument, agreement or other arrangement
      providing for it to issue any capital stock, rights, warrants, options or other
      securities, except for this Agreement, the agreements described herein and
      as
      described in the Standby Equity Distribution Agreement and the agreements
      described therein.
      All
      issued and outstanding securities of the Company, have been duly authorized
      and
      validly issued and are fully paid and non-assessable; the holders thereof have
      no rights of rescission or preemptive rights with respect thereto and are not
      subject to personal liability solely by reason of being security holders; and
      none of such securities were issued in violation of the preemptive rights of
      any
      holders of any security of the Company. 

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    The
      Common Stock to be issued in accordance with this Agreement and the Standby
      Equity Distribution Agreement have been duly authorized and, when issued and
      paid for in accordance with this Agreement, the Standby Equity Distribution
      Agreement and the certificates/instruments representing such Common Stock will
      be validly issued, fully-paid and non-assessable; the holders thereof will
      not
      be subject to personal liability solely by reason of being such holders; such
      Securities are not and will not be subject to the preemptive rights of any
      holder of any security of the Company.

     

    The
      Company has good and marketable title to, or valid and enforceable leasehold
      estates in, all items of real and personal property necessary to conduct its
      business (including, without limitation, any real or personal property stated
      in
      the Offering Materials to be owned or leased by the Company), free and clear
      of
      all liens, encumbrances, claims, security interests and defects of any material
      nature whatsoever, other than those set forth in the Offering Materials and
      liens for taxes not yet due and payable.

     

    There
      is
      no litigation or governmental proceeding pending or, to the best of the
      Company’s knowledge, threatened against, or involving the properties or business
      of the Company, except as set forth in the Offering Materials. 

     

    The
      Company is duly organized and validly exists as a corporation in good standing
      under the laws of the State of Delaware. Except as set forth in the Offering
      Materials, the Company does not own or control, directly or indirectly, an
      interest in any other corporation, partnership, trust, joint venture or other
      business entity. The Company is duly qualified or licensed and in good standing
      as a foreign corporation in each jurisdiction in which the character of its
      operations requires such qualification or licensing and where failure to so
      qualify would have a material adverse effect on the Company. The Company has
      all
      requisite corporate power and authority, and all material and necessary
      authorizations, approvals, orders, licenses, certificates and permits of and
      from all governmental regulatory officials and bodies (domestic and foreign)
      to
      conduct its businesses (and proposed business) as described in the Offering
      Materials. Any disclosures in the Offering Materials concerning the effects
      of
      foreign, federal, state and local regulation on the Company’s businesses as
      currently conducted and as contemplated are correct in all material respects
      and
      do not omit to state a material fact. The Company has all corporate power and
      authority to enter into this Agreement, the Standby Equity Distribution
      Agreement, the Registration Rights Agreement, and to carry out the provisions
      and conditions hereof and thereof, and all consents, authorizations, approvals
      and orders required in connection herewith and therewith have been obtained.
      No
      consent, authorization or order of, and no filing with, any court, government
      agency or other body is required by the Company for the issuance of the
      Securities or execution and delivery of the Offering Materials except for
      applicable federal and state securities laws. The Company, since its inception,
      has not incurred any liability arising under or as a result of the application
      of any of the provisions of the 1933 Act, the 1934 Act or the Rules and
      Regulations.

     

    There
      has
      been no material adverse change in the condition or prospects of the Company,
      financial or otherwise, from the latest dates as of which such condition or
      prospects, respectively, are set forth in the Offering Materials, and the
      outstanding debt, the property and the business of the Company conform in all
      material respects to the descriptions thereof contained in the Offering
      Materials.

     

    Except
      as
      set forth in the Offering Materials,
      the
      Company is not in breach of, or in default under, any term or provision of
      any
      material indenture, mortgage, deed of trust, lease, note, loan or any other
      material agreement or instrument evidencing an obligation for borrowed money,
      or
      any other material agreement or instrument to which it is a party or by which
      it
      or any of its properties may be bound or affected. The Company is not in
      violation of any provision of its charter or by-laws or in violation of any
      franchise, license, permit, judgment, decree or order, or in violation of any
      material statute, rule or regulation. Neither the execution and delivery of
      the
      Offering Materials nor the issuance and sale or delivery of the Securities,
      nor
      the consummation of any of the transactions contemplated in the Offering
      Materials nor the compliance by the Company with the terms and provisions hereof
      or thereof, has conflicted with or will conflict with, or has resulted in or
      will result in a breach of, any of the terms and provisions of, or has
      constituted or will constitute a default under, or has resulted in or will
      result in the creation or imposition of any lien, charge or encumbrance upon
      any
      property or assets of the Company or pursuant to the terms of any indenture,
      mortgage, deed of trust, note, loan or any other agreement or instrument
      evidencing an obligation for borrowed money, or any other agreement or
      instrument to which the Company may be bound or to which any of the property
      or
      assets of the Company is subject except (a) where such default, lien, charge
      or
      encumbrance would not have a material adverse effect on the Company and (b)
      as
      described in the Offering Materials; nor will such action result in any
      violation of the provisions of the charter or the by-laws of the Company or,
      assuming the due performance by the Placement Agent of its obligations
      hereunder, any material statute or any material order, rule or regulation
      applicable to the Company of any court or of any foreign, federal, state or
      other regulatory authority or other government body having jurisdiction over
      the
      Company.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    Subsequent
      to the dates as of which information is given in the Offering Materials, and
      except as may otherwise be indicated or contemplated herein or therein the
      Company has not (a) issued any securities or incurred any liability or
      obligation, direct or contingent, for borrowed money, or (b) entered into any
      transaction other than in the ordinary course of business, or (c) declared
      or
      paid any dividend or made any other distribution on or in respect of its capital
      stock. Except as described in the Offering Materials, the Company has no
      outstanding obligations to any officer or director of the Company other than
      normal payable in connection with services provided recently.

     

    There
      are
      no claims for services in the nature of a finder’s or origination fee with
      respect to the sale of the Common Stock or any other arrangements, agreements
      or
      understandings that may affect the Placement Agent's compensation, as determined
      by the National Association of Securities Dealers, Inc.

     

    The
      Company owns or possesses, free and clear of all liens or encumbrances and
      rights thereto or therein by third parties, the requisite licenses or other
      rights to use all trademarks, service marks, copyrights, service names, trade
      names, patents, patent applications and licenses necessary to conduct its
      business (including, without limitation, any such licenses or rights described
      in the Offering Materials as being owned or possessed by the Company) and,
      except as set forth in the Offering Materials, there is no claim or action
      by
      any person pertaining to, or proceeding, pending or threatened, which challenges
      the exclusive rights of the Company with respect to any trademarks, service
      marks, copyrights, service names, trade names, patents, patent applications
      and
      licenses used in the conduct of the Company’s businesses (including, without
      limitation, any such licenses or rights described in the Offering Materials
      as
      being owned or possessed by the Company) except any claim or action that would
      not have a material adverse effect on the Company; the Company’s current
      products, services or processes do not infringe or will not infringe on the
      patents currently held by any third party.

     

    Subject
      to the performance by the Placement Agent of its obligations
      hereunder
      the
      offer and sale of the Securities complies,
      and
      will continue to comply,
      in all
      material respects with the requirements of Rule 506 of Regulation D promulgated
      by the SEC pursuant to the 1933 Act and any other applicable federal and state
      laws, rules, regulations and executive orders. Neither the Offering Materials
      nor any amendment or supplement thereto nor any documents prepared by the
      Company in connection with the Offering will 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. All statements of material facts in the
      Offering Materials are true and correct as of the date of the Offering
      Materials.

     

    All
      material
      taxes which are due and payable from the Company have been paid in full or
      adequate provision has been made for such taxes on the books of the
      Company,
      except
      for those taxes disputed in good faith by
      the
      Company 

     

    None
      of
      the Company nor any of its officers, directors, employees or agents, nor any
      other person acting on behalf of the Company, has, directly or indirectly,
      given
      or agreed to give any money, gift or similar benefit (other than legal price
      concessions to customers in the ordinary course of business) to any customer,
      supplier, employee or agent of a customer or supplier, or official or employee
      of any governmental agency or instrumentality of any government (domestic or
      foreign) or any political party or candidate for office (domestic or foreign)
      or
      other person who is or may be in a position to help or hinder the business
      of
      the Company (or assist it in connection with any actual or proposed transaction)
      which (A) might subject the Company to any damage or penalty in any civil,
      criminal or governmental litigation or proceeding, or (B) if not given in the
      past, might have had a materially adverse effect on the assets, business or
      operations of the Company as reflected in any of the financial statements
      contained in the Offering Materials, or (C) if not continued in the future,
      might adversely affect the assets, business, operations or prospects of the
      Company in the future.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    Certain
      Covenants and Agreements of the Company.

     

    The
      Company covenants and agrees at its expense and without any expense to the
      Placement Agent as follows:

     

    To
      advise
      the Placement Agent of
      any
      material adverse change in the Company’s financial condition, prospects or
      business or of any development materially affecting the Company or rendering
      untrue or misleading any material statement in the Offering Materials occurring
      at any time as soon as the Company is either informed or becomes aware
      thereof.

     

    To
      use
      its commercially reasonable efforts to cause the Common Stock issuable in
      connection with the Standby Equity Distribution Agreement to be qualified or
      registered for sale on terms consistent with those stated in the Registration
      Rights Agreement and under the securities laws of such jurisdictions as the
      Placement Agent shall reasonably request. Qualification, registration and
      exemption charges and fees shall be at the sole cost and expense of the
      Company.

     

    Upon
      written request, to provide and continue to provide the Placement Agent copies
      of all quarterly financial statements and audited annual financial statements
      prepared by or on behalf of the Company, other reports prepared by or on behalf
      of the Company for public disclosure and all documents delivered to the
      Company’s stockholders.

     

    To
      comply
      with the terms of the Offering Materials.

     

    To
      ensure
      that any transactions between or among the Company, or any of its officers,
      directors and affiliates be on terms and conditions that are no less favorable
      to the Company, than the terms and conditions that would be available in an
      “arm’s length” transaction with an independent third party.

     

    Upon
      the
      effectiveness of a registration statement covering the Securities, the Company
      shall promptly provide the Placement Agent with an opinion of Counsel to the
      Company, which opinion shall be in form and substance reasonably satisfactory
      to
      and the Placement Agent.

     

    At
      or
      prior to the Closing, the Company shall have been furnished such documents,
      certificates and opinions as it may reasonably require for the purpose of
      enabling the Placement Agent to review or pass upon the matters referred to
      in
      this Agreement and the Offering Materials, or in order to evidence the accuracy,
      completeness or satisfaction of any of the representations, warranties or
      conditions herein contained.

     

    Indemnification
      and
      Limitation of Liability.

     

    The
      Company hereby agrees that it will indemnify and hold the Placement Agent and
      each officer, director, shareholder, employee or representative of the Placement
      Agent and each person controlling, controlled by or under common control with
      the Placement Agent within the meaning of Section 15 of the 1933 Act or Section
      20 of the 1934 Act or the SEC’s Rules and Regulations promulgated thereunder
      (the “Rules
      and Regulations”),
      harmless from and against any and all loss, claim, damage, liability, cost
      or
      expense whatsoever (including, but not limited to, any and all reasonable legal
      fees and other expenses and disbursements incurred in connection with
      investigating, preparing to defend or defending any action, suit or proceeding,
      including any inquiry or investigation, commenced or threatened, or any claim
      whatsoever or in appearing or preparing for appearance as a witness in any
      action, suit or proceeding, including any inquiry, investigation or pretrial
      proceeding such as a deposition) to which the Placement Agent or such
      indemnified person of the Placement Agent may become subject under the 1933
      Act,
      the 1934 Act, the Rules and Regulations, or any other federal or state law
      or
      regulation, common law or otherwise, arising out of or based upon (i) any untrue
      statement or alleged untrue statement of a material fact contained in (a)
      Section 4 of this Agreement, (b) the Offering Materials (except those written
      statements relating to the Placement Agent given by the
      Placement Agent
      for
      inclusion therein), (c) any application or other document or written
      communication executed by the Company or based upon written information
      furnished by the Company filed in any jurisdiction in order to qualify the
      Common Stock under the securities laws thereof, or any state securities
      commission or agency; (ii) the omission or alleged omission from documents
      described in clauses (a), (b) or (c) above of a material fact required to be
      stated therein or necessary to make the statements therein not misleading;
      or
      (iii) the breach of any representation, warranty, covenant or agreement made
      by
      the Company in this Agreement. The Company further agrees that upon demand
      by an
      indemnified person, at any time or from time to time, it will promptly reimburse
      such indemnified person for any loss, claim, damage, liability, cost or expense
      actually and reasonably paid by the indemnified person as to which the Company
      has indemnified such person pursuant hereto. Notwithstanding the foregoing
      provisions of this Paragraph 7(A), any such payment or reimbursement by the
      Company of fees, expenses or disbursements incurred by an indemnified person
      in
      any proceeding in which a final judgment by a court of competent jurisdiction
      (after all appeals or the expiration of time to appeal) is entered against
      the
      Placement Agent or such indemnified person based upon specific finding of fact
      that the Placement Agent or such indemnified person’s gross negligence or
      willful misfeasance will be promptly repaid to the Company.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    The
      Placement Agent hereby agrees that it will indemnify and hold the Company and
      each officer, director, shareholder, employee or representative of the Company,
      and each person controlling, controlled by or under common control with the
      Company within the meaning of Section 15 of the 1933 Act or Section 20 of the
      1934 Act or the Rules and Regulations, harmless from and against any and all
      loss, claim, damage, liability, cost or expense whatsoever (including, but
      not
      limited to, any and all reasonable legal fees and other expenses and
      disbursements incurred in connection with investigating, preparing to defend
      or
      defending any action, suit or proceeding, including any inquiry or
      investigation, commenced or threatened, or any claim whatsoever or in appearing
      or preparing for appearance as a witness in any action, suit or proceeding,
      including any inquiry, investigation or pretrial proceeding such as a
      deposition) to which the Company or such indemnified person of the Company
      may
      become subject under the 1933 Act, the 1934 Act, the Rules and Regulations,
      or
      any other federal or state law or regulation, common law or otherwise, arising
      out of or based upon (i) the material
      breach of any representation, warranty, covenant or agreement made by the
      Placement Agent in this Agreement, or (ii)
      any
      false or misleading information provided to the Company in
      writing by
      one of
      the Placement Agent’s indemnified persons
      specifically for inclusion in the Offering Materials.

     

    Promptly
      after receipt by an indemnified party of notice of commencement of any action
      covered by Section 7(A) or (B), the party to be indemnified shall, within five
      (5) business days, notify the indemnifying party of the commencement thereof;
      the omission by one (1) indemnified party to so notify the indemnifying
      party shall not relieve the indemnifying party of its obligation to indemnify
      any other indemnified party that has given such notice and shall not relieve
      the
      indemnifying party of any liability outside of this indemnification if not
      materially prejudiced thereby. In the event that any action is brought against
      the indemnified party, the indemnifying party will be entitled to participate
      therein and, to the extent it may desire, to assume and control the defense
      thereof with counsel chosen by it which is reasonably acceptable to the
      indemnified party. After notice from the indemnifying party to such indemnified
      party of its election to so assume the defense thereof, the indemnifying party
      will not be liable to such indemnified party under such Section 7(A) or (B),
      for
      any legal or other expenses subsequently incurred by such indemnified party
      in
      connection with the defense thereof, but the indemnified party may, at its
      own
      expense, participate in such defense by counsel chosen by it, without, however,
      impairing the indemnifying party’s control of the defense. Subject to the
      proviso of this sentence and notwithstanding any other statement to the contrary
      contained herein, the indemnified party or parties shall have the right to
      choose its or their own counsel and control the defense of any action, all
      at
      the expense of the indemnifying party if (i) the employment of such counsel
      shall have been authorized in writing by the indemnifying party in connection
      with the defense of such action at the expense of the indemnifying party, or
      (ii) the indemnifying party shall not have employed counsel reasonably
      satisfactory to such indemnified party to have charge of the defense of such
      action within a reasonable time after notice of commencement of the action,
      or
      (iii) such indemnified party or parties shall have reasonably concluded that
      there may be defenses available to it or them which are different from or
      additional to those available to one or all of the indemnifying parties (in
      which case the indemnifying parties shall not have the right to direct the
      defense of such action on behalf of the indemnified party or parties), in any
      of
      which events such fees and expenses of one additional counsel shall be borne
      by
      the indemnifying party; provided, however, that the indemnifying party shall
      not, in connection with any one action or separate but substantially similar
      or
      related actions in the same jurisdiction arising out of the same general
      allegations or circumstance, be liable for the reasonable fees and expenses
      of
      more than one separate firm of attorneys at any time for all such indemnified
      parties. No settlement of any action or proceeding against an indemnified party
      shall be made without the consent of the indemnifying party.

     

    In
      order
      to provide for just and equitable contribution in circumstances in which the
      indemnification provided for in Section 7(A) or 7(B) is due in accordance with
      its terms but is for any reason held by a court to be unavailable on grounds
      of
      policy or otherwise, the Company and the Placement Agent shall contribute to
      the
      aggregate losses, claims, damages and liabilities (including legal or other
      expenses reasonably incurred in connection with the investigation or defense
      of
      same) which the other may incur in such proportion so that the Placement Agent
      shall be responsible for such percent of the aggregate of such losses, claims,
      damages and liabilities as shall equal the percentage of the gross proceeds
      paid
      to the Placement Agent and the Company shall be responsible for the balance;
      provided, however, that no person guilty of fraudulent misrepresentation within
      the meaning of Section 11(f) of the 1933 Act shall be entitled to contribution
      from any person who was not guilty of such fraudulent misrepresentation. For
      purposes of this Section 7(D), any person controlling, controlled by or under
      common control with the Placement Agent, or any partner, director, officer,
      employee, representative or any agent of any thereof, shall have the same rights
      to contribution as the Placement Agent and each person controlling, controlled
      by or under common control with the Company within the meaning of Section 15
      of
      the 1933 Act or Section 20 of the 1934 Act and each officer of the Company
      and
      each director of the Company shall have the same rights to contribution as
      the
      Company. Any party entitled to contribution will, promptly after receipt of
      notice of commencement of any action, suit or proceeding against such party
      in
      respect of which a claim for contribution may be made against the other party
      under this Section 7(D), notify such party from whom contribution may be sought,
      but the omission to so notify such party shall not relieve the party from whom
      contribution may be sought from any obligation they may have hereunder or
      otherwise if the party from whom contribution may be sought is not materially
      prejudiced thereby. 

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    The
      indemnity and contribution agreements contained in this Section 7 shall remain
      operative and in full force and effect regardless of any investigation made
      by
      or on behalf of any indemnified person or any termination of this
      Agreement.

     

    The
      Company hereby waives, to the fullest extent permitted by law, any right to
      or
      claim of any punitive, exemplary, incidental, indirect, special, consequential
      or other damages (including, without limitation, loss of profits) against the
      Placement Agent and each officer, director, shareholder, employee or
      representative of the placement agent and each person controlling, controlled
      by
      or under common control with the Placement Agent within the meaning of Section
      15 of the 1933 Act or Section 20 of the 1934 Act or the Rules and Regulations
      arising out of any cause whatsoever (whether such cause be based in contract,
      negligence, strict liability, other tort or otherwise). Notwithstanding anything
      to the contrary contained herein, the aggregate liability of the Placement
      Agent
      and each officer, director, shareholder, employee or representative of the
      Placement Agent and each person controlling, controlled by or under common
      control with the Placement Agent within the meaning of Section 15 of the 1933
      Act or Section 20 of the 1934 Act or the Rules and Regulations shall not exceed
      the compensation received by the Placement Agent pursuant to Section 2 hereof.
      This limitation of liability shall apply regardless of the cause of action,
      whether contract, tort (including, without limitation, negligence) or breach
      of
      statute or any other legal or equitable obligation.

     

    Payment
      of Expenses.

     

    The
      Company hereby agrees to bear all of the expenses in connection with the
      Offering, including, but not limited to the following: filing fees, printing
      and
      duplicating costs, advertisements, postage and mailing expenses with respect
      to
      the transmission of Offering Materials, registrar and transfer agent fees,
      escrow agent fees and expenses, fees of the Company’s counsel and accountants,
      issue and transfer taxes, if any. 

     

    Termination.

     

    This
      Agreement shall be co-terminus with, and terminate upon the same terms and
      conditions as those set forth in the Standby Equity Distribution Agreement.
      

     

    Miscellaneous.

     

    This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original, but all which shall be deemed to be one and the same
      instrument.

     

    Any
      notice required or permitted to be given hereunder shall be given in writing
      and
      shall be deemed effective when deposited in the United States mail, postage
      prepaid, or when received if personally delivered or faxed (upon confirmation
      of
      receipt received by the sending party), addressed as follows
      to such
      other address of which written notice is given to the others):

     

    
      	
              If
                to Placement Agent, to:

               

            	
              Newbridge
                Securities Corporation

               

            
	 	
              1451
                Cypress Creek Road, Suite 204

            
	 	
              Fort
                Lauderdale, Florida 33309

            
	 	
              Attention: Doug
                Aguililla

            
	 	
              Telephone: (954)
                334-3450

            
	 	
              Facsimile: (954)
                229-9937

            
	 	 
	
              If
                to the Company, to:

            	
              Serefex
                Corporation

            
	 	
              4328
                Corporate Square Boulevard, Suite C

            
	 	
              Naples,
                Florida 34104

            
	 	
              Attention: Brian
                S. Dunn

            
	 	
              Telephone: (239)
                262-1610

            
	 	
              Facsimile: (239)
                262-1642

            
	 	 
	
              With
                a copy to:

            	
              Williams,
                Schifino, Mangioni and Steady P.A.

            
	 	
              One
                Tampa City Center, Suite 250

            
	 	
              Tampa,
                Florida 33602

            
	 	
              Attention:
                William Schifino

            
	 	
              Telephone: (813)
                221-2626

            
	 	
              Facsimile: (813)
                221-7335

            
	 	 
	 	 

    

    

    This
      Agreement shall be governed by and construed in all respects under the laws
      of
      the State of New Jersey, without reference to its conflict of laws rules or
      principles. Any suit, action, proceeding or litigation arising out of or
      relating to this Agreement shall be brought and prosecuted in such federal
      or
      state court or courts located within the State of New Jersey as provided by
      law.
      The parties hereby irrevocably and unconditionally consent to the jurisdiction
      of each such court or courts located within the State of New Jersey and to
      service of process by registered or certified mail, return receipt requested,
      or
      by any other manner provided by applicable law, and hereby irrevocably and
      unconditionally waive any right to claim that any suit, action, proceeding
      or
      litigation so commenced has been commenced in an inconvenient
      forum.

     

    This
      Agreement and the other agreements referenced herein contain the entire
      understanding between the parties hereto and may not be modified or amended
      except by a writing duly signed by the party against whom enforcement of the
      modification or amendment is sought.

     

    If
      any
      provision of this Agreement shall be held to be invalid or unenforceable, such
      invalidity or unenforceability shall not affect any other provision of this
      Agreement.

     

    [REMAINDER
      OF PAGE INTENTIALLY LEFT BLANK]

     

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Placement Agent Agreement as of the date
      first
      written above.

    
      	 	 
	 	
              Serefex
                Corporation

            
	 	 
	 	
              By:      

            
	 	
              Name: Brian
                Dunn

            
	 	
              Title: Chief
                Executive Officer

            
	 	 
	 	 
	 	 
	 	
              Newbridge
                Securities Corporation

            
	 	 
	 	
              By:      

            
	 	
              Name: Guy
                S. Amico

            
	 	
              Title: President

            
	 	 
	 	 

    

    

    
      
         

      

      
        8

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