Document:

EXHIBIT 10.1
                                                                    ------------

                          REGISTRATION RIGHTS AGREEMENT

THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement"), dated as of February 1,
2007, is by and among Semotus Solutions, Inc., a Nevada corporation ("Company")
and MIRO KNEZEVIC AND GAIL L. KNEZEVIC, CO-TRUSTEES, KNEZEVIC FAMILY TRUST DATED
JUNE 30, 1992 ("Knezevic').

                                    RECITALS

     WHEREAS, pursuant to an Investment Agreement and Convertible Promissory
Note, dated as of February 1, 2007, among the Company and Knezevic, the Company
may issue a certain number of shares of common stock of the Company (the
"Company Shares") to Knezevic; and

     WHEREAS, to induce Knezevic to execute and deliver the Investment Agreement
and Convertible Promissory Note, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended (the
"Securities Act"), and applicable state securities laws.

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the mutual covenants and promises
contained herein and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the Company and Knezevic agree as
follows:

     1. Definitions

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

               (i) "Exchange Act" means the United States Securities Exchange
Act of 1934, as amended.

               (ii) "Register," "Registered," and "Registration" refer to a
registration effected by preparing and filing a Registration Statement or
Statements 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 basis ("Rule 415"), and the declaration or ordering of effectiveness
of such Registration Statement by the United States Securities and Exchange
Commission (the "Commission").

               (iii) "Registrable Securities" means the Conversion Shares issued
or issuable to Knezevic pursuant to the Convertible Promissory Note, but in any
event no less than the maximum number of shares that can be issued under such
Convertible Promissory Note (i.e. 3,557,060 shares of Common Stock) and any
shares issued in respect of such shares and any other shares of Common Stock of
the Company issued as a dividend or other distribution with respect to, or in
exchange for or in replacement of, such shares.

<PAGE>

               (iv) "Registration Statement" means a registration statement of
the Company under the Securities Act that includes all of the Registrable
Securities.

               (v) "Securities Act" means the United States Securities Act of
1933, as amended.

     Capitalized terms used herein and not otherwise defined herein shall have
the meanings set forth in the Convertible Promissory Note.

     2. REGISTRATION.

          (a) MANDATORY REGISTRATION.

               (i) Unless the Registration Statement as provided for in
paragraph 2(b) herein and which includes all of the Registrable Securities is
filed and not withdrawn by July 1, 2007, the Company shall file on or before
July 1, 2007 with the Commission a Registration Statement on Form S-3 (or any
successor form thereto) covering the registration for resales of the Registrable
Securities. (ii) The Company shall use its best efforts to file the required
Registration Statement as soon as possible and to cause the Registration
Statement to become effective as soon as possible thereafter. The Company shall
use best efforts to keep the Registration Statement (whether filed under
paragraph 2(a) herein or under paragraph 2(b) herein or otherwise under this
Agreement) effective pursuant to Rule 415 at all times until such date as is the
earlier of (the "REGISTRATION PERIOD") (A) the date on which all of the
Registrable Securities have been sold and (B) the date on which the Registrable
Securities (in the reasonable opinion of counsel to Knezevic) may be immediately
sold without restriction (including without limitation as to volume) without
registration under the Securities Act.

          (b) PIGGYBACK REGISTRATION. If (but without any obligation to do so)
the Company proposes to register any of its common shares on a registration
statement (other than a registration relating solely to the sale of securities
to participants in a Company stock option plan), Company shall, at such time,
promptly give the Holder written notice of such registration. Upon the written
request of the Holder given within ten (10) days after mailing of such notice by
Company, Company shall use all best efforts to cause to be registered under the
Act all of the Registrable Securities that the Holder has requested to be
registered. Company shall have the right to terminate or withdraw any
registration initiated by it under this Section prior to the effectiveness of
such registration. The expenses of such withdrawn registration shall be borne by
Company.

          (c) ELIGIBILITY FOR FORM S-3. The Company represents and warrants that
it meets all of the requirements for the use of Form S-3 for the Registration of
the sale by Knezevic and any transferee who purchases the Registrable
Securities, and the Company shall use best efforts to file all reports required
to be filed by the Company with the Commission in a timely manner, and shall
take such other actions as may be necessary to maintain such eligibility for the
use of Form S-3. or any successor form.

     3. OBLIGATIONS OF THE COMPANY. In connection with the registration of the
Registrable Securities, the Company shall do each of the following:

                                       -2-
<PAGE>

          (a) Prepare and file with the Commission the registration statements
required by Section 2 of this Agreement and such amendments (including
post-effective amendments) and supplements to the Registration Statement and the
prospectuses used in connection with the Registration Statement, each in such
form as to which Knezevic and his counsel shall not have objected, as may be
necessary to keep the Registration effective at all times during the
Registration Period, and, during the Registration Period, comply with the
provisions of the Securities Act with respect to the disposition of all of the
Registrable Securities of the Company covered by the Registration Statement
until such time as all of such Registrable Securities have been disposed of in
accordance with the intended methods of disposition by the seller or sellers
thereof as set forth in the Registration Statement;

          (b) Notify Knezevic, if the Registrable Securities of Knezevic are
included in the Registration Statement, and his legal counsel identified to the
Company, promptly after the same is prepared and publicly distributed, filed
with the Commission, or received by the Company, of the availability on the
Internet, including the URL, the Registration Statement, each preliminary
prospectus, each final prospectus, and all amendments and supplements thereto
and such other documents, as Knezevic may reasonably request in order to
facilitate the disposition of his Registrable Securities;

          (c) Furnish to Knezevic and his counsel copies of any correspondence
between the Company and the Commission with respect to any registration
statement or amendment or supplement thereto filed pursuant to this Agreement;

          (d) Use all reasonable efforts to (i) register and qualify the
Registrable Securities covered by the Registration Statement under such other
securities or blue sky laws of such jurisdictions as Knezevic may reasonably
request, (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 at all
times 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 that in connection therewith, the Company shall not be
required to qualify as a foreign corporation or to file a general consent to the
service of process in any jurisdiction;

          (e) As promptly as practicable after becoming aware of such event,
notify Knezevic of the occurrence of any event of which the Company has
knowledge, as a result of which the prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein in order to make
the statements therein, in light of the circumstances under which they were
made, not misleading, and to use its best efforts to promptly prepare a
supplement or amendment to the Registration Statement or other appropriate
filing with the Commission to correct such untrue statement of omission, and to
deliver a number of copies of such supplement or amendment to Knezevic as
Knezevic may reasonably request;

          (f) As promptly as practicable after becoming aware of such event,
notify Knezevic or his transferee who holds Registrable Securities being sold
(or, in the event of an

                                       -3-
<PAGE>

underwritten offering, the managing underwriters) of the issuance by the
Commission of any stop order or other suspension of the effectiveness of the
Registration Statement at the earliest possible time, and to use its best
efforts to promptly obtain the withdrawal of such stop order or other suspension
of effectiveness;

          (g) If the offering is underwritten, and the underwriter so requests,
to furnish on the date that Registrable Securities are delivered to the
underwriters for sale pursuant to such registration: (i) an opinion dated such
date of counsel representing the Company for the purposes of such registration,
addressed to the underwriters and to Knezevic in connection with such
underwriting, stating that such registration statement has become effective
under the Securities Act and that (A) to the best knowledge of such counsel, no
stop order suspending the effectiveness thereof has been issued and no
proceedings for that purpose have been instituted or are pending or contemplated
under the Securities Act and (B) the registration statement, the related
prospectus and each amendment or supplement thereof comply as to form in all
material respects with the requirements of the Securities Act (except that such
counsel need not express any opinion as to financial statements or other
financial data contained therein) and (ii) a letter dated such date from the
Company's independent public accountants addressed to the underwriters and to
such Purchaser, stating that they are independent public accountants within the
meaning of the Securities Act and that, in the opinion of such accountants, the
financial statements of the Company included in the registration statement or
the prospectus, or any amendment or supplement thereof, comply as to form in all
material respects with the applicable accounting requirements of the Securities
Act, and such letter shall additionally cover such other financial matters
(including information as to the period ending no more than five business days
prior to the date of such letter) with respect to such registration as such
underwriters may reasonably request; and

               (i) Cooperate with Knezevic to facilitate the timely preparation
and delivery of certificates for the Registrable Securities to be offered
pursuant to the Registration Statement and to enable such certificates for the
Registrable Securities to be in such denominations or amounts, as the case may
be, as Knezevic may reasonably request, and registered in such names as Knezevic
may request; and, within three business days after a Registration Statement
which includes Registrable Securities is ordered effective by the Commission,
the Company shall deliver, and shall cause legal counsel selected by the Company
to deliver, to the transfer agent for the Registrable Securities (with copies to
Knezevic) an appropriate instruction and opinion of such counsel.

     4. OBLIGATIONS OF KNEZEVIC. In connection with the registration of the
Registrable Securities, Knezevic shall have the following obligations:

          (a) Knezevic shall furnish to the Company such information regarding
himself, the Registrable Securities held by him, and the intended method of
disposition of the Registrable Securities held by him, as shall be reasonably
required to effect the registration of such Registrable Securities, and Knezevic
shall execute such documents in connection with such registration as the Company
may reasonably request. At least ten days prior to the first anticipated filing
date of the Registration Statement, the Company shall notify Knezevic of the
information the Company requires from Knezevic if Knezevic elects to have any of
his Registrable Securities included in the Registration Statement.

                                      -4-
<PAGE>

          (b) Upon receipt of any notice from the Company of the happening of
any event of the kind described in Section 3(e) or 3(f) above, Knezevic will
immediately discontinue disposition of his Registrable Securities pursuant to
the Registration Statement covering such Registrable Securities until such
copies of the supplemented or amended prospectus contemplated by Section 3(e) or
3(f) shall be furnished to him.

     5. EXPENSES OF REGISTRATION. All expenses, other than underwriting
discounts and commissions incurred in connection with registrations, filings or
qualifications pursuant to Section 3, including, without limitation, all
registration, listing, and qualification fees, printing and accounting fees, and
the fees and disbursements of counsel for the Company, shall be borne by the
Company.

     6. INDEMNIFICATION. In the event any Registrable Securities are included in
a Registration Statement under this Agreement:

          (a) To the extent permitted by law, the Company will indemnify and
hold harmless Knezevic and his transferees and controlling persons of his
transferees and their respective successors and assigns (each, an "Indemnified
Person"), against any losses, claims, damages, liabilities or expenses (joint or
several) incurred (collectively, "Claims") to which any of them may become
subject under the Securities Act, the Exchange Act or otherwise, 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 contained in the Registration Statement or
any post-effective amendment thereof or the omission or alleged omission to
state therein a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances in which
they were made, not misleading, (ii) any untrue statement or alleged untrue
statement of a material fact contained in any preliminary prospectus if used
prior to the effective date of such Registration Statement, or contained in the
final prospectus (as amended or supplemented, if the Company files any amendment
thereof or supplement thereto with the Commission) or the omission to state
therein any material fact necessary in order to make the statements made
therein, in light of the circumstances under which they were made, not
misleading, or (iii) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act, any state or foreign securities law or any
rule or regulation under the Securities Act, the Exchange Act or any state or
foreign securities law (the matters in foregoing clauses (i) through (iii)
being, collectively, "Violations"). The Company shall, subject to the provisions
of Section 6(b) below, reimburse the Indemnified Person, promptly as such
expenses are incurred and are due and payable, for any legal and other costs,
expenses and disbursements in giving testimony or furnishing documents in
response to a subpoena or otherwise, including without limitation, the costs,
expenses and disbursements, as and when incurred, of investigating, preparing or
defending any such action, suit, proceeding or investigation (whether or not in
connection with litigation in which the Indemnified Person is a party), incurred
by him in connection with the investigation or defense of any such Claim.
Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a) shall not (i) apply to any Claim
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 or on behalf
of any Indemnified Person expressly for use in connection with the preparation
of the Registration Statement or any such amendment thereof or supplement
thereto; (ii) with respect to any preliminary prospectus, inure to

                                       -5-
<PAGE>

the benefit of any such person from whom the person asserting any such Claim
purchased the Registrable Securities that are the subject thereof (or to the
benefit of any person controlling such person) if the untrue statement or
omission of material fact contained in the preliminary prospectus was corrected
in the final prospectus, as then amended or supplemented, if such final
prospectus was timely made available by the Company pursuant to Section 3(b)
hereof; (iii) be available to the extent that such Claim is based upon a failure
of the Indemnified Person 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(b) hereof; or (iv) 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 and shall survive the transfer of
the Registrable Securities by Knezevic pursuant to Section 9. Each Indemnified
Person will indemnify the Company and its officers and directors against any
Claims 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 or on
behalf of the Indemnified Person, expressly for use in connection with the
preparation of the Registration Statement, subject to such limitations and
conditions are applicable to the Indemnification provided by the Company
pursuant to this Section 6 (for the purposes of such indemnification, the
Company and its officers and directors shall each be considered an "Indemnified
Person").

          (b) Promptly after receipt by an Indemnified Person under this Section
6 of notice of the commencement of any action (including any governmental
action), such Indemnified Person 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
that the indemnifying party so desires, jointly with any other indemnifying
party similarly notified, to assume control of the defense thereof with counsel
mutually satisfactory to the indemnifying party and the Indemnified Person,
provided, however, that an Indemnified Person shall have the right to retain its
own counsel with the reasonable fees and expenses 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 and the
indemnifying party would be inappropriate due to actual or potential differing
interests between such Indemnified Person and any other party represented by
such counsel in such proceeding. In such event, the Company shall pay for only
one separate legal counsel for the Indemnified Person, and such legal counsel
shall be selected by the Indemnified Person. The failure to deliver written
notice to an indemnifying party within a reasonable time after the commencement
of any such action shall not relieve such indemnifying party of any liability to
the Indemnified Person under this Section 6, except to the extent that the
indemnifying party is materially 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 such expense, loss, damage or liability is incurred and is due and
payable.

          (c) No indemnifying party, in the defense of any such claim or
litigation, shall, except with the consent of each Indemnified Person, consent
to entry of any judgment or enter into any settlement which does not include as
an unconditional term thereof the giving by the claimant or plaintiff to such
Indemnified Person of an unconditional and irrevocable release from all
liability in respect of such claim or litigation.

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<PAGE>

          (d) Notwithstanding the foregoing, to the extent that any provisions
relating to indemnification or contribution contained in the underwriting
agreements entered into among the Company, the underwriters and the Indemnified
Person in connection with the underwritten public offering are in conflict with
the foregoing provisions, the provisions in such underwriting agreements shall
be controlling as to the Registrable Securities included in the public offering;
provided, however, that if, as a result of this Section 6(d), the Indemnified
Person is or are held liable with respect to any Claim for which they would be
entitled to indemnification hereunder but for this Section 6(d) in an amount
which exceeds the aggregate proceeds received by them from the sale of
Registrable Securities included in a registration pursuant to such underwriting
agreement (the "Excess Liability"), the Company shall reimburse them for such
Excess Liability.

     7. CONTRIBUTION. To the extent any indemnification by an indemnifying party
is prohibited or limited under applicable law, the indemnifying party agrees to
contribute to the amount paid or payable by such indemnified party as a result
of such loss, claim, damage, liability or expense in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one
hand and the Indemnified Person on the other hand in connection with the
statements or omissions which resulted in such Claim, as well as any other
relevant equitable considerations. The relative fault of the indemnifying party
and the Indemnified Person shall be determined by reference to, among other
things, whether the untrue statement of a material fact or the omission to state
a material fact on which such Claim is based relates to information supplied by
the indemnifying party or by the Indemnified Person, and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. Notwithstanding the forgoing, (a) no contribution
shall be made under circumstances where the payor would not have been liable for
indemnification under the fault standards set forth in Section 6, (b) 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
such fraudulent misrepresentation and (c) contribution by any seller of
Registrable Securities shall be limited in amount to the net proceeds received
by such seller from the sale of such Registrable Securities. The Company and
Knezevic agree that it would not be just and equitable if contribution pursuant
to this Section 7 were determined by pro rata allocation (even if Knezevic and
any other party were treated as one entity for such purpose) or by any other
method of allocation that does not take account of the equitable considerations
referred to in this Section.

     8. REPORTS UNDER EXCHANGE ACT.

          (a) With a view to making available to Knezevic the benefits of Rule
144 promulgated under the Securities Act or any other similar rule or regulation
of the Commission that may at any time permit Knezevic to sell securities of the
Company to the public without registration ("Rule 144"), the Company agrees to:

               (i) make and keep public information available, as those terms
are understood and defined in Rule 144;

               (ii) file with the Commission in a timely manner all reports and
other documents required of the Company under the Securities Act and the
Exchange Act; and

                                      -7-
<PAGE>

               (iii) furnish to Knezevic, so long as Purchaser owns Registrable
Securities, promptly upon request (i) a written statement by the Company that it
has complied with the reporting requirements of the Securities Act and the
Exchange Act, (ii) a copy of the most recent annual or periodic report of the
Company and such other reports and documents so filed by the Company and (iii)
such other information and take such actions as may be reasonably requested to
permit Knezevic to sell such securities pursuant to Rule 144 without
registration.

          (b) Notwithstanding the forgoing, the Company will not be deemed to
have breached this Agreement pursuant to paragraph (a) above at any time at
which Knezevic may effect resales of all of the Registrable Securities pursuant
to one or more Registration Statements filed pursuant to this Agreement.

Upon the reasonable request of Knezevic, , the Company will (1) deliver to such
parties a written statement as to whether it has complied with such requirements
and will, at its expense, immediately upon the request of any such Holder,
deliver to such Holder a certificate, signed by the Company's principal
financial officer, stating (a) the Company's name, address and telephone number
(including area code), (b) the Company's Internal Revenue Service identification
number, (c) the Company's SEC file number, (d) the number of shares of each
class of capital stock outstanding as shown by the most recent report or
statement published by the Company, and (e) whether the Company has filed the
reports required to be filed under the Exchange Act for a period of at least
ninety (90) days prior to the date of such certificate and in addition has filed
the most recent annual report required to be filed thereunder and (2) remove any
restrictive legends on stock certificates, list such shares on the exchanges on
which such shares trade, and take such other action reasonably requested.

     9. ASSIGNMENT OF THE REGISTRATION RIGHTS. The rights to have the Company
register Registrable Securities pursuant to this Agreement shall be
automatically assigned by Knezevic to any transferee of all or any portion of
the Company Shares held by Knezevic if: (a) Knezevic agrees in writing with the
transferee or assignee to assign such rights, and a copy of such agreement is
furnished to the Company within a reasonable time after such assignment; (b) the
Company is, within a reasonable time after such transfer or assignment,
furnished with written notice of (i) the name and address of such transferee or
assignee and (ii) the securities with respect to which such registration rights
are being transferred or assigned; and (c) at or before the time the Company
receives the written notice contemplated by clause (b) of this sentence, the
transferee or assignee agrees in writing with the Company to be bound by all of
the provisions contained in this Agreement. In the event of any delay in filing
the Registration Statement as a result of such assignment, the Company shall not
be liable for any damages arising from such delay.

     10. AMENDMENT OF REGISTRATION RIGHTS. Any provision 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 with the
written consent of the Company and the holders of a majority in interest of the
Registrable Securities. Any amendment or waiver effected in accordance with this
Section 10 shall be binding upon each holder and the Company.

     11. MISCELLANEOUS.

                                       -8-
<PAGE>

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

          (b) Any notice required or permitted hereunder shall be given in
writing (unless otherwise specified herein) and shall be effective upon personal
delivery, via facsimile (upon receipt of confirmation of error-free
transmission) or two business days following deposit of such notice with a
nationally recognized courier service, with postage prepaid and addressed to
each of the other parties thereunto entitled at the following addresses, or at
such other addresses as a party may designate by ten days advance written notice
to each of the other parties hereto.

COMPANY:  SEMOTUS SOLUTIONS, INC.

          718 University Ave., Suite 202
          Los Gatos, CA 95032
          ATTN:  Tali Durant. Esq.
          Facsimile:  (408) 904-7699

KNEZEVIC: Miro Knezevic, Trustee
          Knezevic Family Trust
          110 Newport Center Drive
          Suite 200
          Newport Beach, California 92660
          949) 719-1192

          With a copy to : Jack Cornman
          Cornman & Swartz19800 MacArthur Blvd., Suite 820
          Irvine, CA 92612
          Fax: 949 224 1505

          (c) 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.

          (d) This Agreement shall be governed by and interpreted in accordance
with the laws of the State of California, except for provisions with respect to
internal corporate matters of the Company which shall be governed by the
corporate laws of the State of Nevada. This Agreement may be signed by facsimile
and in one or more counterparts, each of which shall be deemed an original. The
headings of this Agreement are for convenience of reference and shall not

                                       -9-
<PAGE>

form part of, or affect the interpretation of, this Agreement. If any provision
of this Agreement shall be invalid or unenforceable in any jurisdiction, such
validity or unenforceability shall not affect the validity or enforceability of
the remainder of this Agreement or the validity or enforceability of this
Agreement in any other jurisdiction. Subject to the provisions of Section 11
hereof, this Agreement may be amended only by an instrument in writing signed by
the party to be charged with enforcement.

          (e) This Agreement constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof. There are no restrictions,
promises, warranties or undertakings, other than those set forth, or referred to
herein and in the Agreement of Merger. This Agreement supersedes all prior
agreements and understandings among the parties hereto with respect to the
subject matter hereof.

          (f) Subject to the requirements of Section 10 hereof, this Agreement
shall inure to the benefit of and be binding upon the successors and assigns of
each of the parties hereto.

          (g) All pronouns and any variations thereof refer to the masculine,
feminine or neuter, singular or plural, as the context may require.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed.

COMPANY

SEMOTUS SOLUTIONS, INC.

By:    /s/ Anthony N. LaPine
Name:  Anthony N. LaPine
Title: CEO

PURCHASER

Knezevic Family Trust dated June 30, 1992

/s/ Miro Knezevic, Co-Trustee
---------------------------------
Miro Knezevic, Co-Trustee

/s/ Gail L. Knezevic, Co-Trustee
---------------------------------
Gail L. Knezevic, Co-Trustee

                                      -10-WWW.EXFILE.COM, INC. -- 14899 -- MEDIS TECHNOLOGIES LTD. -- EXHIBIT 4.4 TO  FORM S-3

     

    EXHIBIT
      4.4

    Medis
      Technologies Ltd.

     

    5,000
      Shares of 7.25% Series A Cumulative Convertible Perpetual Preferred
      Stock

     

    (Liquidation
      Preference $10,000 per share)* 

     

    REGISTRATION
      RIGHTS AGREEMENT

     

    November
      15, 2006

     

    Citigroup
      Global Markets Inc.

    As
      Representative of the Initial Purchasers

    c/o
      Citigroup Global Markets Inc.

    388
      Greenwich Street

    New
      York,
      New York 10013

    

    Ladies
      and Gentlemen:

     

    Medis
      Technologies Ltd., a corporation organized under the laws of the State of
      Delaware (the “Company”)
      proposes to issue and sell to certain purchasers (the “Initial
      Purchasers”),
      for
      whom you (the “Representative”)
      are
      acting as representative, 5,000 Shares of [__]% Series A Cumulative Convertible
      Perpetual Preferred Stock (Liquidation Preference $10,000 per share) (the
“Preferred
      Stock”),
      of
      the Company (the “Firm
      Securities”).
      The
      Company also proposes to grant to the Initial Purchasers an option to purchase
      up to 750 additional shares of Preferred Stock to cover over-allotments, if
      any
      (the “Option
      Securities”
and,
      together with the Firm Securities, the “Securities”),
      upon
      the terms set forth in the Purchase Agreement between the Company and the
      Representative dated November 9, 2006 (the “Purchase
      Agreement”)
      relating to the initial placement (the “Initial
      Placement”)
      of the
      Securities. To the extent there are no additional parties listed on Schedule
      I
      to the Purchase Agreement other than you, the term Representative as used herein
      shall mean you as the Initial Purchaser and the term Representatives and Initial
      Purchasers shall mean either the singular or plural as the context requires.
      To
      induce the Initial Purchasers to enter into the Purchase Agreement and to
      satisfy a condition to your obligations thereunder, the Company agrees with
      you
      for your benefit and the benefit of the holders from time to time of the
      Securities (including the Initial Purchasers) (each a “Holder”
and,
      collectively, the “Holders”),
      as
      follows:

     

    1.
        Definitions.
      Capitalized terms used herein without definition shall have their respective
      meanings set forth in the Purchase Agreement. As used in this Agreement, the
      following capitalized defined terms shall have the following
      meanings:

     

    “Act”
      shall mean the Securities Act of 1933, as amended, and the rules and regulations
      of the Commission promulgated thereunder.

     

    “Affiliate”
      shall have the meaning specified in Rule 405 under the Act and the terms
“controlling” and “controlled” shall have meanings correlative
      thereto.

     

      
        

      

    

    
      
        	
                * 

              	
                Plus
                  an option to purchase up to 750 shares of the Preferred Stock of
                  the
                  Company to cover
                  over-allotments.

              

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Broker-Dealer”
      shall mean any broker or dealer registered as such under the Exchange
      Act.

     

    “Business
      Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a
      day on which banking institutions or trust companies are authorized or obligated
      by law to close in New York City.

     

    “Certificate
      of Designation” shall mean the Certificate of Designation relating to the
      Securities, dated as of November 15, 2006, signed by the Company and duly filed
      with the Secretary of State of the State of Delaware.

     

    “Closing
      Date” shall mean the date of the first issuance of the Securities.

     

    “Commission”
      shall mean the Securities and Exchange Commission.

     

    “Deferral
      Period” shall have the meaning indicated in Section 3(i) hereof.

     

    “Exchange
      Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules
      and regulations of the Commission promulgated thereunder.

     

    “Final
      Memorandum” shall mean the offering memorandum, dated November 9, 2006, relating
      to the Securities, including any and all exhibits thereto and any information
      incorporated by reference therein as of such date.

     

    “Fundamental
      Change” shall have the meaning set forth in the Certificate of
      Designations.

     

    “Holder”
      shall have the meaning set forth in the preamble hereto.

     

    “Initial
      Placement” shall have the meaning set forth in the preamble hereto.

     

    “Initial
      Purchasers” shall have the meaning set forth in the preamble
      hereto.

     

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

     

    “Majority
      Holders” shall mean, on any date, Holders of a majority of the Registrable
      Securities registered under a Registration Statement. For purposes of
      determining the “Majority Holders,” each share of Preferred Stock that is a
      Registrable Security shall initially be equivalent to 347.222 shares of common
      stock. Such ratio shall be adjusted, from time to time, in accordance with
      the
      terms of the Securities.

     

    “Managing
      Underwriters” shall mean the investment banker or investment bankers and manager
      or managers that administer an underwritten offering, if any, conducted pursuant
      to Section 6 hereof.

     

    “NASD
      Rules” shall mean the Conduct Rules and the By-Laws of the National Association
      of Securities Dealers, Inc.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    “Notice
      and Questionnaire” shall mean a written notice delivered to the Company
      substantially in the form attached as the Annex to the Final
      Memorandum.

     

    “Notice
      Holder” shall mean, on any date, any Holder of Registrable Securities that has
      delivered a Notice and Questionnaire to the Company on or prior to such
      date.

     

    “Prospectus”
      shall mean a prospectus included in the Shelf Registration Statement (including,
      without limitation, a prospectus that discloses information previously omitted
      from a prospectus filed as part of an effective registration statement in
      reliance upon Rule 430A under the 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 Shelf Registration Statement,
      and
      all amendments and supplements thereto, including any and all exhibits thereto
      and any information incorporated by reference therein.

     

    “Purchase
      Agreement” shall have the meaning set forth in the preamble hereto.

     

    “Repurchase
      Common Stock” shall mean the Common Stock issued upon the repurchase of the
      Securities by the Company in connection with a Fundamental Change.

     

    “Registrable
      Securities” shall mean Securities, the Underlying Common Stock and the
      Repurchase Common Stock until such securities have been converted or exchanged
      and, at all times subsequent to any such conversion or exchange, any securities
      into or for which such securities have been converted or exchanged, and any
      security issued with respect thereto upon any stock dividend, split, merger
      or
      similar event until, in the case of any such security, the earliest of
      (i) its effective registration under the Securities Act and resale in
      accordance with the Registration Statement covering it, (ii) expiration of
      the holding period that would be applicable thereto under Rule 144(k) were
      it
      not held by an Affiliate of the Company, or (iii) its sale to the public
      pursuant to Rule 144.

     

    “Registration
      Default Damages” shall have the meaning set forth in Section 7
      hereof.

     

    “Securities”
      shall have the meaning set forth in the preamble hereto.

     

    “Shelf
      Registration Period” shall have the meaning set forth in Section 2(c)
      hereof.

     

    “Shelf
      Registration Statement” shall mean one or more “shelf” registration statements
      of the Company pursuant to the provisions of Section 2 hereof which cover
      some or all of the Registrable Securities on an appropriate form under
      Rule 415 under the Act, or any similar rule that may be adopted by the
      Commission, amendments and supplements to such registration statements,
      including post-effective amendments, in each case including the Prospectus
      contained therein, all exhibits thereto and all material incorporated by
      reference therein. 

     

    “Underlying
      Common Stock” means the Common Stock into which the Securities are convertible
      or issued upon any such conversion.

     

    “Underwriter”
      shall mean any underwriter of Registrable Securities in connection with an
      offering thereof under the Shelf Registration Statement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    2.
        Shelf
      Registration.

     

    (a)  The
      Company shall as promptly as practicable (but in no event more than 90 days
      after the Closing Date) file with the Commission a Shelf Registration Statement
      providing for the registration of, and the sale on a continuous or delayed
      basis
      by the Holders of, all of the Registrable Securities, from time to time in
      accordance with the methods of distribution elected by such Holders, pursuant
      to
      Rule 415 under the Act or any similar rule that may be adopted by the
      Commission. 

     

    (b)  The
      Company shall use its best efforts to cause the Shelf Registration Statement
      to
      become or be declared effective under the Act no later than 180 days after
      the
      Closing Date.

     

    (c)  The
      Company shall use its best efforts to keep the Shelf Registration Statement
      continuously effective, supplemented and amended as required by the Act, in
      order to permit the Prospectus forming part thereof to be usable by Holders
      for
      a period (the “Shelf
      Registration Period”)
      from
      the date the Shelf Registration Statement is declared effective by the
      Commission until the earlier of (i) the second anniversary thereof or (ii)
      the
      date upon which there are no Registrable Securities outstanding. The Company
      shall be deemed not to have used its best efforts to keep the Shelf Registration
      Statement effective during the Shelf Registration Period if it voluntarily
      takes
      any action that would result in Holders of Registrable Securities not being
      able
      to offer and sell such Registrable Securities at any time during the Shelf
      Registration Period, unless such action is (x) required by applicable law
      or otherwise undertaken by the Company in good faith and for valid business
      reasons (not including avoidance of the Company’s obligations hereunder),
      including the acquisition or divestiture of assets, and (y) permitted by Section
      3(i) hereof.

     

    (d)  The
      Company shall cause the Shelf Registration Statement and the related Prospectus
      and any amendment or supplement thereto, as of the effective date of the Shelf
      Registration Statement or such amendment or supplement, (i) to comply in all
      material respects with the applicable requirements of the Act; and (ii) not
      to
      contain any untrue statement of a material fact or omit to state a material
      fact
      required to be stated therein or necessary in order to make the statements
      therein (in the case of the Prospectus, in the light of the circumstances under
      which they were made) not misleading.

     

    (e)  Each
      Holder of Registrable Securities agrees to deliver a Notice and Questionnaire
      to
      the Company at least five Business Days prior to any distribution by it of
      Registrable Securities under the Shelf Registration Statement; provided,
      however,
      that if
      the Company is required to amend the shelf registration statement to include
      any
      Holder of Registrable Securities, as provided for below, such Holder will not
      distribute its securities under the Shelf Registration Statement until such
      amendment has become effective. From and after the date the Shelf Registration
      Statement is declared effective, the Company shall, as promptly as is
      practicable after the date a Notice and Questionnaire is delivered, and in
      any
      event within five Business Days after such date, (i) if required by applicable
      law, file with the Commission a post-effective amendment to the Shelf
      Registration Statement or prepare and, if required by applicable law, file
      a
      supplement to the related Prospectus or a amendment or supplement to any
      document incorporated therein by reference or file any other required document
      so that the Holder 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    delivering
      such Notice and Questionnaire is named as a selling holder in the Shelf
      Registration Statement and the related Prospectus and so that such Holder is
      permitted to deliver such Prospectus to purchasers of the Registrable Securities
      in accordance with applicable law and, if the Company shall file a
      post-effective amendment to the Shelf Registration Statement, use best efforts
      to cause such post-effective amendment to be declared effective under the Act
      as
      promptly as is practicable; provided,
      however,
      that
      once the Shelf Registration Statement has been declared effective, and until
      such time as the Company is eligible to file a shelf registration statement
      on
      Form S-3 under the Act, the Company will not be required to amend the shelf
      registration statement to include any Holder of Registrable Securities more
      than
      once every 60 days; (ii) provide such Holder copies of any documents filed
      pursuant to Section 2(e)(i) hereof; and (iii) notify such Holder as promptly
      as
      practicable after the effectiveness under the Act of any post-effective
      amendment filed pursuant to Section 2(e)(i) hereof; provided, that if such
      Notice and Questionnaire is delivered during a Deferral Period, the Company
      shall so inform the Holder delivering such Notice and Questionnaire and shall
      take the actions set forth in clauses (i), (ii) and (iii) above upon expiration
      of the Deferral Period in accordance with Section 3(i) hereof. Notwithstanding
      anything contained herein to the contrary, the Company shall be under no
      obligation to name any Holder that is not a Notice Holder as a selling holder
      in
      the Shelf Registration Statement or related Prospectus; provided,
      however,
      that
      any Holder that becomes a Notice Holder pursuant to the provisions of this
      Section 2(e) (whether or not such Holder was a Notice Holder at the time the
      Shelf Registration Statement was declared effective) shall be named as a selling
      holder in the Shelf Registration Statement or related Prospectus in accordance
      with the requirements of this Section 2(e).

     

    (f)  Notwithstanding
      anything contained in Section 2(e) to the contrary, each Holder of Registrable
      Securities agrees that once the Shelf Registration Statement has been declared
      effective, and until such time as the Company is eligible to file a shelf
      registration statement on Form S-3 under the Act, such Holder will not
      distribute its securities under the Shelf Registration Statement until the
      distribution of securities is registered and acknowledges that the Company
      will
      not be required to amend the shelf registration statement to include any Holder
      of Registrable Securities more than once every 60 days.

     

    (g)  If
      not
      eligible as of the date of this Agreement, within five Business Days of becoming
      eligible, the Company shall give written notice to the Representative, each
      of
      the Initial Purchasers and each Holder, in the manner provided for in Section
      10, of its eligibility to file a shelf registration statement on Form S-3 under
      the Act.

     

    3.
        Registration
      Procedures.
      The
      following provisions shall apply in connection with the Shelf Registration
      Statement.

     

    (a)  The
      Company shall:

     

    (i)  use
      its
      best efforts to furnish to the Representative and its counsel, and to counsel
      for the Notice Holders if so requested by such Notice Holders, within a
      reasonable time prior to the filing thereof with the Commission, a copy of
      the
      Shelf Registration Statement and each amendment thereof and each amendment
      or
      supplement, if any, to the Prospectus included therein (including all documents
      incorporated by reference therein after the initial filing) and shall

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    use
      its
      best efforts to reflect in each such document, when so filed with the
      Commission, such comments as the Representative reasonably proposes;
      and

     

    (ii)  include
      information regarding the Notice Holders and the methods of distribution they
      have elected for their Registrable Securities provided to the Company in Notices
      and Questionnaires as necessary to permit such distribution by the methods
      specified therein. 

     

    (b)  The
      Company shall ensure that:

     

    (i)  the
      Shelf
      Registration Statement and any amendment thereto and any Prospectus forming
      part
      thereof and any amendment or supplement thereto complies in all material
      respects with the Act; and

     

    (ii)  the
      Shelf
      Registration Statement and any amendment thereto does not, when it becomes
      effective, 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 not misleading.

     

    (c)  The
      Company shall advise the Representative, the Notice Holders and any underwriter
      that has provided in writing to the Company a telephone or facsimile number
      and
      address for notices, and confirm such advice by notice in writing (which notice
      pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction
      to
      suspend the use of the Prospectus until the Company shall have remedied the
      basis for such suspension):

     

    (i)  when
      the
      Shelf Registration Statement and any amendment thereto has been filed with
      the
      Commission and when the Shelf Registration Statement or any post-effective
      amendment thereto has become effective;

     

    (ii)  of
      any
      request by the Commission for any amendment or supplement to the Shelf
      Registration Statement or the Prospectus or for additional
      information;

     

    (iii)  of
      the
      issuance by the Commission of any stop order suspending the effectiveness of
      the
      Shelf Registration Statement or the institution or threatening of any proceeding
      for that purpose;

     

    (iv)  of
      the
      receipt by the Company of any notification with respect to the suspension of
      the
      qualification of the Registrable Securities included therein for sale in any
      jurisdiction or the institution or threatening of any proceeding for such
      purpose; and

     

    (v)  of
      the
      happening of any event that requires any change in the Shelf Registration
      Statement or the Prospectus so that, as of such date, they (A) do not contain
      any untrue statement of a material fact and (B) do not omit to state a material
      fact required to be stated therein or necessary to make the statements therein
      (in the case of the Prospectus, in the light of the circumstances under which
      they were made) not misleading.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (d)  The
      Company shall use its best efforts to prevent the issuance of any order
      suspending the effectiveness of the Shelf Registration Statement or the
      qualification of the securities therein for sale in any jurisdiction and, if
      issued, to obtain as soon as possible the withdrawal thereof.

     

    (e)  The
      Company shall furnish to each Notice Holder, without charge, at least one copy
      of the Shelf Registration Statement and any post-effective amendment thereto,
      including all material incorporated therein by reference, and, if a Notice
      Holder so requests in writing, all exhibits thereto (including exhibits
      incorporated by reference therein).

     

    (f)  During
      the Shelf Registration Period, the Company shall promptly deliver to each
      Initial Purchaser, each Notice Holder, and any sales or placement agents or
      underwriters acting on their behalf, without charge, as many copies of the
      Prospectus (including any preliminary Prospectus) included in the Shelf
      Registration Statement and any amendment or supplement thereto as any such
      person may reasonably request. The Company consents to the use of the Prospectus
      or any amendment or supplement thereto by each of the foregoing in connection
      with the offering and sale of the Registrable Securities.

     

    (g)  Prior
      to
      any offering of Registrable Securities pursuant to the Shelf Registration
      Statement, the Company shall arrange for the qualification of the Registrable
      Securities for sale under the laws of such jurisdictions as any Notice Holder
      shall reasonably request and shall maintain such qualification in effect so
      long
      as required; provided,
      that in
      no event shall the Company be obligated to qualify to do business in any
      jurisdiction where it is not then so qualified or to take any action that would
      subject it to service of process in suits, other than those jurisdictions
      arising out of the Initial Placement or any offering pursuant to the Shelf
      Registration Statement, in any jurisdiction where it is not then so
      subject.

     

    (h)  Upon
      the
      occurrence of any event contemplated by subsections (c)(ii) through (v)
      above, the Company shall promptly (or within the time period provided for by
      Section 3(i) hereof, if applicable) prepare a post-effective amendment to the
      Shelf Registration Statement or an amendment or supplement to the related
      Prospectus or file any other required document so that, as thereafter delivered
      to Initial Purchasers of the securities included therein, the Prospectus will
      not include an untrue statement of a material fact or omit to state any material
      fact required to be stated therein or necessary to make the statements therein,
      in the light of the circumstances under which they were made, not misleading.
      

     

    (i)  Upon
      the
      occurrence or existence of any pending corporate development or any other
      material event (including without limit, the filing of an annual report on
      Form
      10-K under the Securities Act) that, in the reasonable judgment of the Company,
      makes it appropriate to suspend the availability of the Shelf Registration
      Statement and the related Prospectus, the Company shall give notice (without
      notice of the nature or details of such events) to the Notice Holders that
      the
      availability of the Shelf Registration is suspended and, upon actual receipt
      of
      any such notice, each Notice Holder agrees not to sell any Registrable
      Securities pursuant to the Shelf Registration until such Notice Holder’s receipt
      of copies of the supplemented or amended Prospectus provided for in Section
      3(i)
      hereof, or until it is advised in writing by the Company that the Prospectus
      may
      be used, and has received copies of any additional or supplemental filings
      that
      are incorporated or deemed incorporated by reference in such Prospectus. The
      period 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    during
      which the availability of the Shelf Registration and any Prospectus is suspended
      (the “Deferral
      Period”)
      shall
      not exceed 45 days in any three-month period or 90 days in any twelve-month
      period.

     

    (j)  Not
      later
      than the effective date of the Shelf Registration Statement, the Company shall
      provide a CUSIP number for the Registrable Securities registered under the
      Shelf
      Registration Statement and provide printed certificates for such Registrable
      Securities, free of any restrictive legends, in a form eligible for deposit
      with
      The Depository Trust Company.

     

    (k)  The
      Company shall comply with all applicable rules and regulations of the Commission
      and shall make generally available to its security holders an earnings statement
      satisfying the provisions of Section 11(a) of the Act as soon as
      practicable after the effective date of the Shelf Registration Statement and
      in
      any event no later than 45 days after the end of a 12-month period (or 90 days,
      if such period is a fiscal year) beginning with the first month of the Company’s
      first fiscal quarter commencing after the effective date of the Shelf
      Registration Statement.

     

    (l)  The
      Company may require each Holder of Registrable Securities to be sold pursuant
      to
      the Shelf Registration Statement to furnish to the Company such information
      regarding the Holder and the distribution of such Registrable Securities as
      the
      Company may from time to time reasonably require for inclusion in the Shelf
      Registration Statement. The Company may exclude from the Shelf Registration
      Statement the Registrable Securities of any Holder that unreasonably fails
      to
      furnish such information within a reasonable time after receiving such
      request.

     

    (m)  The
      Company shall enter into customary agreements, if requested (including an
      underwriting agreement in customary form) and take all other appropriate actions
      in order to expedite or facilitate the registration or the disposition of the
      Registrable Securities, and in connection therewith, if an underwriting
      agreement is entered into, cause the same to contain indemnification provisions
      and procedures no less favorable than those set forth in Section 5
      hereof.

     

    (n)  The
      Company shall:

     

    (i)  make
      reasonably available for inspection by the Holders of Registrable Securities
      to
      be registered thereunder, any underwriter participating in any disposition
      pursuant to the Shelf Registration Statement, and any attorney, accountant
      or
      other agent retained by the Holders or any such underwriter all relevant
      financial and other records and pertinent corporate documents of the Company
      and
      its subsidiaries;

     

    (ii)  cause
      the
      Company’s officers, directors, employees, accountants and auditors to supply all
      relevant information reasonably requested by the Holders or any such
      underwriter, attorney, accountant or agent in connection with any the Shelf
      Registration Statement as is customary for similar due diligence
      examinations;

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (iii)  upon
      request, make such representations and warranties to the Holders of Registrable
      Securities registered thereunder and the underwriters, if any, in form,
      substance and scope as are customarily made by issuers to underwriters in
      primary underwritten offerings and covering matters including, but not limited
      to, those set forth in the Purchase Agreement;

     

    (iv)  obtain
      opinions of counsel to the Company and updates thereof (which counsel and
      opinions (in form, scope and substance) shall be reasonably satisfactory to
      the
      Managing Underwriters, if any) addressed to each selling Holder and the
      underwriters, if any, covering such matters as are customarily covered in
      opinions requested in underwritten offerings and such other matters as may
      be
      reasonably requested by such Holders and underwriters;

     

    (v)  upon
      request, obtain “comfort” letters and updates thereof from the independent
      certified public accountants of the Company (and, if necessary, any other
      independent certified public accountants of any subsidiary of the Company or
      of
      any business acquired by the Company for which financial statements and
      financial data are, or are required to be, included in the Shelf Registration
      Statement), addressed to each selling Holder of Registrable Securities
      registered thereunder and the underwriters, if any, in customary form and
      covering matters of the type customarily covered in “comfort” letters in
      connection with primary underwritten offerings; and

     

    (vi)  deliver
      such documents and certificates as may be reasonably requested by the Majority
      Holders or the Managing Underwriters, if any, including those to evidence
      compliance with Section 3(i) hereof and with any customary conditions contained
      in the underwriting agreement or other agreement entered into by the Company.
      

     

    (vii)  The
      actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (n)
      shall be performed at (A) the effectiveness of the Shelf Registration Statement
      and each post-effective amendment thereto; and (B) each closing under any
      underwriting or similar agreement as and to the extent required
      thereunder.

     

    (o)  In
      the
      event that any Broker-Dealer shall underwrite any Registrable Securities or
      participate as a member of an underwriting syndicate or selling group or “assist
      in the distribution” (within the meaning of the NASD Rules) thereof, whether as
      a Holder of such Registrable Securities or as an underwriter, a placement or
      sales agent or a broker or dealer in respect thereof, or otherwise, the Company
      shall assist such Broker-Dealer in complying with the NASD Rules.

     

    (p)  The
      Company shall use its best efforts to take all other steps necessary to effect
      the registration of the Registrable Securities covered by the Shelf Registration
      Statement.

     

    4.
        Registration
      Expenses.
      The
      Company shall bear all expenses incurred in connection with the performance
      of
      its obligations under Sections 2 and 3 hereof and shall reimburse the
      Holders for the reasonable fees and disbursements of one firm or counsel which
      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    shall
      initially be King & Spalding, LLP, but which may be another nationally
      recognized law firm experienced in securities matters designated by the Majority
      Holders to act as counsel for the Holders in connection therewith, consented
      to
      by the Company, such consent not to be unreasonably withheld or delayed.

     

    5.
        Indemnification
      and Contribution.  
      (a) The Company agrees to indemnify and hold harmless each Holder of
      Registrable Securities covered by the Shelf Registration Statement, each Initial
      Purchaser, the directors, officers, employees, Affiliates and agents of each
      such Holder or Initial Purchaser and each person who controls any such Holder
      or
      Initial Purchaser within the meaning of either the Act or the Exchange Act
      against any and all losses, claims, damages or liabilities, joint or several,
      to
      which they or any of them may become subject under the Act, the Exchange Act
      or
      other federal or state statutory law or regulation, at common law or otherwise,
      insofar as such losses, claims, damages or liabilities (or actions in respect
      thereof) arise out of or are based upon any untrue statement or alleged untrue
      statement of a material fact contained in the Shelf Registration Statement
      as
      originally filed or in any amendment thereof, or in any preliminary Prospectus
      or the Prospectus, or in any amendment thereof or supplement thereto, or arise
      out of or are based upon the omission or alleged omission to state therein
      a
      material fact required to be stated therein or necessary to make the statements
      therein (in the case of any preliminary Prospectus or the Prospectus, in the
      light of the circumstances under which they were made) not misleading, and
      agrees to reimburse each such indemnified party, as incurred, for any legal
      or
      other expenses reasonably incurred by it in connection with investigating or
      defending any such loss, claim, damage, liability or action; provided,
      however,
      that
      the Company will not be liable in any such case to the extent that any such
      loss, claim, damage or liability arises out of or is based upon any such untrue
      statement or alleged untrue statement or omission or alleged omission made
      therein in reliance upon and in conformity with written information furnished
      to
      the Company by or on behalf of the party claiming indemnification specifically
      for inclusion therein. This indemnity agreement shall be in addition to any
      liability that the Company may otherwise have.

     

    The
      Company also agrees to indemnify as provided in this Section 5(a) or contribute
      as provided in Section 5(d) hereof to Losses of each underwriter, if any, of
      Registrable Securities registered under the Shelf Registration Statement, its
      directors, officers, employees, Affiliates or agents and each person who
      controls such underwriter on substantially the same basis as that of the
      indemnification of the Initial Purchasers and the selling Holders provided
      in
      this paragraph (a) and shall, if requested by any Holder, enter into an
      underwriting agreement reflecting such agreement, as provided in
      Section 3(n) hereof.

     

    (b)  Each
      Holder of securities covered by the Shelf Registration Statement (including
      each
      Initial Purchaser that is a Holder, in such capacity) severally and not jointly
      agrees to indemnify and hold harmless the Company, each of its directors, each
      of its officers who signs the Shelf Registration Statement and each person
      who
      controls the Company within the meaning of either the Act or the Exchange Act,
      to the same extent as the foregoing indemnity from the Company to each such
      Holder, but only with reference to written information relating to such Holder
      furnished to the Company by or on behalf of such Holder specifically for
      inclusion in the documents referred to in the foregoing indemnity. This
      indemnity agreement shall be acknowledged by each Notice Holder that is not
      an
      Initial Purchaser in such Notice Holder’s 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Notice
      and Questionnaire and shall be in addition to any liability that any such Notice
      Holder may otherwise have.

     

    (c)  Promptly
      after receipt by an indemnified party under this Section 5 or notice of the
      commencement of any action, such indemnified party will, if a claim in respect
      thereof is to be made against the indemnifying party under this Section 5,
      notify the indemnifying party in writing of the commencement thereof; but the
      failure so to notify the indemnifying party (i) will not relieve it from
      liability under paragraph (a) or (b) above unless and to the extent it did
      not otherwise learn of such action and such failure results in the forfeiture
      by
      the indemnifying party of substantial rights and defenses; and (ii) will
      not, in any event, relieve the indemnifying party from any obligations to any
      indemnified party other than the indemnification obligation provided in
      paragraph (a) or (b) above. The indemnifying party shall be entitled to
      appoint counsel (including local counsel) of the indemnifying party’s choice at
      the indemnifying party’s expense to represent the indemnified party in any
      action for which indemnification is sought (in which case the indemnifying
      party
      shall not thereafter be responsible for the fees and expenses of any separate
      counsel, other than local counsel if not appointed by the indemnifying party,
      retained by the indemnified party or parties except as set forth below);
provided,
      however,
      that
      such counsel shall be reasonably satisfactory to the indemnified party.
      Notwithstanding the indemnifying party’s election to appoint counsel (including
      local counsel) to represent the indemnified party in an action, the indemnified
      party shall have the right to employ separate counsel (including local counsel),
      and the indemnifying party shall bear the reasonable fees, costs and expenses
      of
      such separate counsel if (i) the use of counsel chosen by the indemnifying
      party to represent the indemnified party would present such counsel with a
      conflict of interest; (ii) the actual or potential defendants in, or
      targets of, any such action include both the indemnified party and the
      indemnifying party and the indemnified party shall have reasonably concluded
      that there may be legal defenses available to it and/or other indemnified
      parties that are different from or additional to those available to the
      indemnifying party; (iii) the indemnifying party shall not have employed
      counsel reasonably satisfactory to the indemnified party to represent the
      indemnified party within a reasonable time after notice of the institution
      of
      such action; or (iv) the indemnifying party shall authorize the indemnified
      party to employ separate counsel at the expense of the indemnifying party.
      An
      indemnifying party will not, without the prior written consent of the
      indemnified parties, settle or compromise or consent to the entry of any
      judgment with respect to any pending or threatened claim, action, suit or
      proceeding in respect of which indemnification or contribution may be sought
      hereunder (whether or not the indemnified parties are actual or potential
      parties to such claim or action) unless such settlement, compromise or consent
      includes an unconditional release of each indemnified party from all liability
      arising out of such claim, action, suit or proceeding.

     

    (d)  In
      the
      event that the indemnity provided in paragraph (a) or (b) of this Section 5
      is unavailable to or insufficient to hold harmless an indemnified party for
      any
      reason, then each applicable indemnifying party shall have a joint and several
      obligation to contribute to the aggregate losses, claims, damages and
      liabilities (including legal or other expenses reasonably incurred in connection
      with investigating or defending loss, claim, liability, damage or action)
      (collectively “Losses”) to which such indemnified party may be subject in such
      proportion as is appropriate to reflect the relative benefits received by such
      indemnifying party, on the one hand, and such indemnified party, on the other
      hand, from the Initial Placement and the Shelf Registration Statement which
      resulted in such Losses; provided,
      however,
      that in
      no 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    case
      shall any Initial Purchaser be responsible, in the aggregate, for any amount
      in
      excess of the purchase discount or commission applicable to such Registrable
      Security, as set forth in the Final Memorandum, nor shall any underwriter be
      responsible for any amount in excess of the underwriting discount or commission
      applicable to the securities purchased by such underwriter under the Shelf
      Registration Statement which resulted in such Losses. If the allocation provided
      by the immediately preceding sentence is unavailable for any reason, the
      indemnifying party and the indemnified party shall contribute in such proportion
      as is appropriate to reflect not only such relative benefits but also the
      relative fault of such indemnifying party, on the one hand, and such indemnified
      party, on the other hand, in connection with the statements or omissions which
      resulted in such Losses as well as any other relevant equitable considerations.
      Benefits received by the Company shall be deemed to be equal to the total net
      proceeds from the Initial Placement (before deducting expenses) as set forth
      in
      the Final Memorandum. Benefits received by the Initial Purchasers shall be
      deemed to be equal to the total purchase discounts and commissions as set forth
      on the cover page of the Final Memorandum, and benefits received by any other
      Holders shall be deemed to be equal to the value of receiving Registrable
      Securities registered under the Act. Benefits received by any underwriter shall
      be deemed to be equal to the total underwriting discounts and commissions,
      as
      set forth on the cover page of the Prospectus forming a part of the Shelf
      Registration Statement which resulted in such Losses. Relative fault shall
      be
      determined by reference to, among other things, whether any untrue or any
      alleged untrue statement of a material fact or omission or alleged omission
      to
      state a material fact relates to information provided by the indemnifying party,
      on the one hand, or by the indemnified party, on the other hand, the intent
      of
      the parties and their relative knowledge, access to information and opportunity
      to correct or prevent such untrue statement or omission. The parties agree
      that
      it would not be just and equitable if contribution were determined by pro rata
      allocation (even if the Holders were treated as one entity for such purpose)
      or
      any other method of allocation which does not take account of the equitable
      considerations referred to above. Notwithstanding the provisions of this
      paragraph (d), no person guilty of fraudulent misrepresentation (within the
      meaning of Section 11(f) of the Act) shall be entitled to contribution from
      any person who was not guilty of such fraudulent misrepresentation. For purposes
      of this Section 5, each person who controls a Holder within the meaning of
      either the Act or the Exchange Act and each director, officer, employee and
      agent of such Holder shall have the same rights to contribution as such Holder,
      and each person who controls the Company within the meaning of either the Act
      or
      the Exchange Act, each officer of the Company who shall have signed the Shelf
      Registration Statement and each director of the Company shall have the same
      rights to contribution as the Company, subject in each case to the applicable
      terms and conditions of this paragraph (d).

     

    (e)  The
      provisions of this Section 5 shall remain in full force and effect, regardless
      of any investigation made by or on behalf of any Holder or the Company or any
      of
      the indemnified persons referred to in this Section 5, and shall survive the
      sale by a Holder of securities covered by the Shelf Registration
      Statement.

     

    6.
        Underwritten
      Registrations.  
      (a)  If any of the Registrable Securities covered by the Shelf Registration
      Statement are to be sold in an underwritten offering, the Managing Underwriters
      shall be selected by the Majority Holders.

     

    (b)  No
      person
      may participate in any underwritten offering pursuant to the Shelf Registration
      Statement unless such person (i) agrees to sell such person’s Registrable

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Securities
      on the basis reasonably provided in any underwriting arrangements approved
      by
      the persons entitled hereunder to approve such arrangements; and (ii) completes
      and executes all questionnaires, powers of attorney, indemnities, underwriting
      agreements and other documents reasonably required under the terms of such
      underwriting arrangements.

     

    7.   Registration
      Defaults. If any of the following events shall occur, then the Company shall
      pay liquidated damages (the “Registration Default Damages”) to the
      Holders of Registrable Securities in respect of the Securities as
      follows:

     

    (a)  if
      the
      Shelf Registration Statement is not filed with the Commission on or prior to
      the
      90th
      day
      following the Closing Date, then commencing on the 91st
      day
      after the Closing Date, Registration Default Damages shall accrue on the
      Securities and shall be computed by increasing the applicable dividend rate
      of
      the Preferred Stock for the relevant period by 0.25% per year for the first
      90
      days from and including such 91st
      day
      after the Closing Date and .50% per annum thereafter (it being understood that
      Registration Default Damages shall not exceed 0.50% per annum); 

     

    (b)  if
      the
      Shelf Registration Statement is not declared effective by the Commission on
      or
      prior to the 180th day
      following the Closing Date, then commencing on the 181st
      day
      after the Closing Date, Registration Default Damages shall accrue on the
      Securities and shall be computed by increasing the applicable dividend rate
      of
      the Preferred Stock for the relevant period by 0.25% per year for the first
      90
      days from and including such 181st
      day
      after the Closing Date and .50% per annum thereafter (it being understood that
      Registration Default Damages shall not exceed 0.50% per annum); or

     

    (c)  if
      the
      Shelf Registration Statement has been declared effective but ceases to be
      effective (other than pursuant to Section 3(i) hereof) at any time during the
      Shelf Registration Period, then commencing on the day the Shelf Registration
      Statement ceases to be effective, Registration Default Damages shall accrue
      on
      the Securities and shall be computed by increasing the applicable dividend
      rate
      of the Preferred Stock for the relevant period by 0.25% per year for the first
      90 days from and including such date on which the Shelf Registration Statement
      ceases to be effective and .50% per annum thereafter (it being understood that
      Registration Default Damages shall not exceed 0.50% per annum); or

     

    (d)  if
      the
      aggregate duration of Deferral Periods in any period exceeds the number of
      days
      permitted in respect of such period pursuant to Section 3(i) hereof, then
      commencing on the day the aggregate duration of Deferral Periods in any period
      exceeds the number of days permitted in respect of such period, Registration
      Default Damages shall accrue on the Securities and shall be computed by
      increasing the applicable dividend rate of the Preferred Stock for the relevant
      period by 0.25% per year for the first 90 days from and including such date,
      and
      .50% per annum thereafter (it being understood that Registration Default Damages
      shall not exceed 0.50% per annum); 

     

    provided,
      however,
      that
      (1) upon the filing of the Shelf Registration Statement (in the case of
      paragraph (a) above), (2) upon the effectiveness of the Shelf Registration
      Statement (in the case of paragraph (b) above), (3) upon the effectiveness
      of
      the Shelf Registration Statement which had ceased to remain effective (in the
      case of paragraph (c) above), or (4) upon the termination 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    of
      the
      Deferral Period that caused the limit on the aggregate duration of Deferral
      Periods in a period set forth in Section 3(i) to be exceeded (in the case of
      paragraph (d) above), Registration Default Damages shall cease to
      accrue.

     

    Registration
      Default Damages will be payable to the holders entitled thereto, in the manner
      provided for the payment of dividends in the Certificate of
      Designation.

     

    (e)  No
      Registration Default Damages will accrue or be payable on the Underlying Common
      Stock. Registration Default Damages that have accrued on the Securities will
      be
      cancelled upon conversion of the Preferred Stock into the Underlying Common
      Stock.

     

    8.
        No
      Inconsistent Agreements.
      The
      Company has not entered into, and agrees not to enter into, any agreement with
      respect to its securities that is inconsistent with the rights granted to the
      Holders herein or that otherwise conflicts with the provisions
      hereof.

     

    9.
        Amendments
      and Waivers.
      The
      provisions of this Agreement may not be amended, qualified, modified or
      supplemented, and waivers or consents to departures from the provisions hereof
      may not be given, unless the Company has obtained the written consent of the
      Holders of a majority of the Registrable Securities outstanding; provided that,
      with
      respect to any matter that directly or indirectly affects the rights of any
      Initial Purchaser hereunder, the Company shall obtain the written consent of
      each such Initial Purchaser against which such amendment, qualification,
      supplement, waiver or consent is to be effective; provided, further, that no
      amendment, qualification, supplement, waiver or consent with respect to Section
      8 hereof shall be effective as against any Holder of Registered Securities
      unless consented to in writing by such Holder; and provided,
      further,
      that
      the provisions of this Article 9 may not be amended, qualified, modified or
      supplemented, and waivers or consents to departures from the provisions hereof
      may not be given, unless the Company has obtained the written consent of the
      Initial Purchasers and each Holder.

     

    10.
        Notices.
      All
      notices and other communications provided for or permitted hereunder shall
      be
      made in writing by hand-delivery, first-class mail, telex, telecopier or air
      courier guaranteeing overnight delivery:

     

    (a)  if
      to a
      Holder, at the most current address given by such Holder to the Company in
      accordance with the provisions of the Notice and Questionnaire, which address
      initially is, with respect to each Holder, the address of such Holder maintained
      by the transfer agent of the Company; 

     

    (b)  if
      to the
      Initial Purchasers or the Representative, initially at the address or addresses
      set forth in the Purchase Agreement; and

     

    (c)  if
      to the
      Company, initially at its address set forth in the Purchase
      Agreement.

     

    All
      such
      notices and communications shall be deemed to have been duly given when
      received.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    The
      Initial Purchasers or the Company by notice to the other parties may designate
      additional or different addresses for subsequent notices or
      communications.

     

    11.
        Remedies.
      Each
      Holder, in addition to being entitled to exercise all rights provided to it
      herein, pursuant to the terms of the Securities or in the Purchase Agreement
      or
      granted by law, including recovery of liquidated or other damages, will be
      entitled to specific performance of its rights under this Agreement. The Company
      agrees that monetary damages would not be adequate compensation for any loss
      incurred by reason of a breach by it of the provisions of this Agreement and
      hereby agrees to waive in any action for specific performance the defense that
      a
      remedy at law would be adequate.

     

    12.
        Successors.
      This
      Agreement shall inure to the benefit of and be binding upon the parties hereto,
      their respective successors and assigns, including, without the need for an
      express assignment or any consent by the Company thereto, subsequent Holders
      of
      Registrable Securities, and the indemnified persons referred to in Section
      5
      hereof. The Company hereby agrees to extend the benefits of this Agreement
      to
      any Holder of Registrable Securities, and any such Holder may specifically
      enforce the provisions of this Agreement as if an original party
      hereto.

     

    13.
        Counterparts.
      This
      Agreement may be signed in one or more counterparts, each of which shall
      constitute an original and all of which together shall constitute one and the
      same agreement.

     

    14.
        Headings.
      The
      section headings used herein are for convenience only and shall not affect
      the
      construction hereof.

     

    15.
        Applicable
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of New York applicable to contracts made and to be performed in the State
      of New York. The parties hereto each hereby waive any right to trial by jury
      in
      any action, proceeding or counterclaim arising out of or relating to this
      Agreement.

     

    16.
        Severability.
      In the
      event that any one of more of the provisions contained herein, or the
      application thereof in any circumstances, is held invalid, illegal or
      unenforceable in any respect for any reason, the validity, legality and
      enforceability of any such provision in every other respect and of the remaining
      provisions hereof shall not be in any way impaired or affected thereby, it
      being
      intended that all of the rights and privileges of the parties shall be
      enforceable to the fullest extent permitted by law.

     

    17.
        Securities
      Held by the Company, etc.
      Whenever
      the consent or approval of Holders of a specified number of Registrable
      Securities is required hereunder, Registrable Securities held by the Company
      or
      its Affiliates (other than subsequent Holders of Registrable Securities if
      such
      subsequent Holders are deemed to be Affiliates solely by reason of their
      holdings of such Registrable Securities) shall not be counted in determining
      whether such consent or approval was given by the Holders of such required
      percentage.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    If
      the
      foregoing is in accordance with your understanding of our agreement, please
      sign
      and return to us the enclosed duplicate hereof, whereupon this letter and your
      acceptance shall represent a binding agreement between the Company and the
      several Initial Purchasers.

     

    
      	 	 	 
	 	Very truly yours, 
	 	 
	 	
              Medis
                Technologies Ltd.

            
	 
 	 
 	 
 
	 	By:  	/s/ 
	 	
              

              Name:
                

            
	 	Title:

    

     

    The
      foregoing Agreement is hereby confirmed and

    accepted
      as of the date first above written.

    

    

    Citigroup
      Global Markets Inc.

    

    

    By  
      /s/                                                                  

           
Name:

    Title:

    

    

    For
      themselves and the other several

    Initial
      Purchasers named in Schedule I

    to
      the
      Purchase Agreement

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